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Noost
Noost, 56, lives with his wife and his two children in a small house he owns in Uvs province, Mongolia. His wife is retired. His daughter is a college teacher. Also he works as a college teacher. He wants to run an agriculture business with his son.

Last year, he bought 1,5 hectares of land. He is planning to plant some organic vegetables on the land. He is a humble and diligent man. He says " I want to improve my family's livelihood by planting vegetables." He is requesting 1,000,000 MNT to buy organic vegetable seeds for his new business.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,330.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Noost to buy organic vegetable seeds for his new business.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 15, 2012
Listed
Jun 30, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 16, 2012