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Hangarid
Hangarid, twenty-six, lives with his wife and a son in a ger (a Mongolian yurt) in Tosontsengel, Mongolia. His son is four years old and goes to kindergarden. His wife helps with his business. He started planting organic potatoes and some organic vegetables in 2010. He owns two hectares of land.

His business income is not sufficient to support his family. In order generate more income, he needs to expand his business. He is planning to plant different kinds of organic vegetables on his land. His land is located far away from his house. For this reason we couldn't take his photo in his place of business. He is a hardworking and good natured man. He says "My wife and I support our family by planting some vegetables on the land we own. I want to plant different organic vegetables. In order to expand my business, I need to buy more organic vegetables seeds". He is requesting 2,000,000 MNT to expand his business.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,317.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,525 helped Hangarid to buy more organic vegetable seeds.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 5, 2012
Listed
Jun 21, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2014