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Mrs. Tungalag lives with her children in Govisumber, which is a province of Mongolia. Her younger daughter, G. Munkhtsetseg, is a college student, and her son is a secondary school student. Since 1999, Mrs. Tungalag has been managing her family business that sells solar energy equipment for herders. Now, she would like to expand her business to sell more types of goods, such as freezers and televisions, for herders. She needs 540,000 MNT to buy more solar energy equipment, freezers, and televisions. She is an honest person.

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,355.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $400 helped Tungalag to buy more solar energy equipment, freezers, and televisions.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Aug 10, 2012
Aug 18, 2012
Currency Exchange Loss:
Jun 17, 2013