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Tuvshinjargal
Tuvshinjargal is 55 years old and lives with his wife and younger son in the Selenge province of Mongolia. His wife helps with his business. Tuvshinjargal has a small yard and in this yard he grows organic vegetables. Mongolian summer time is very sunny and very comfortable for growing organic vegetables. He started his own farming and organic vegetable growing business in 2006. He is a hardworking man and says, "I want to expand my business." He is requesting 4,000,000 MNT to purchase a tractor to carry organic vegetables to the trade center. Tuvshinjargal hopes to increase his business and harvest more organic vegetables to sell. He expects major changes in the improvement of his family's standard of living.

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
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,342.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,000 helped Tuvshinjargal to purchase a tractor to carry organic vegetables to the trade center.
77% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 18, 2012
Listed
Aug 12, 2012
Currency Exchange Loss:
Possible