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Ganchimeg
Ganchimeg lives with her husband and two children in a 'ger' in the Uvurhangai province of Mongolia. She is 26 years old now and started her business in 2006. Her mini-factory is producing wooden components and furniture for "ger" dwellings. She uses left-over wood to make her products. Her buyers are "Bogd-Urguu LLC", "Altan toonot urgoo LLC" and "Bat-Ulziit LLC" in the capital city of Mongolia. She has three experienced workers. Her husband also contributes to her business. She is a hardworking woman. Now she is requesting 6,500,000 MNT to purchase construction materials for a new workplace and raw materials.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,355.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,800 helped Ganchimeg to purchase construction materials for a new workplace and raw materials.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Aug 8, 2012
Listed
Aug 18, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 3, 2015