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Suhbaatar
Mr. Suhbaatar is 53 years old and lives with his wife, Dalaijargal, in a little house in Huvsgul province. His wife is his partner. Since 2008, he has conducted an organic vegetable planting, hay-making business. He is also a professional welder and he operates a welding business.

He borrowed a loan from Xacbank four times in the last four years. He was good borrower. But he is lacking in working capital, so he needs 4,200,000 MNT to purchase new welding materials and to help in the reaping of his vegetables.

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
  • 1,355.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,100 helped Suhbaatar to purchase new welding materials and to help in the reaping of his vegetables.
91% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Jul 30, 2012
Listed
Aug 18, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014