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Togtohbayar
Togtohbayar is 58 years old and lives with his wife in a ger (a Mongolian yurt) in Tosontsengel province, Mongolia. His wife helps with his business. He started his traditional farming business in 2007. He owns several livestock. He produces all sorts of products such as: organic milk, cashmere, wool and meat. He is well known to the suppliers for his natural products. He is very concerned about his products. He is a sharp and hardworking man who says "I don't use any chemicals on my livestock. My products are all naturally produced". He needs more sheep to sell a bigger amount of organic milk. He's requesting 2,700,000 MNT to buy sheep and to buy bicycle for his son.

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

  • $5,900
    Average annual income
  • 1
    View loans »
    Mongolia Loans Fundraising
  • $15,360,225
    Funds lent in using Kiva
  • 1,317.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,075 helped Togtohbayar to buy sheep so he can sell more organic milk and to buy a bicycle for his son.
97% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 12, 2012
Listed
Jun 21, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013