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Huathan
Mr. Huathan is 55 years old. He lives with his wife and youngest son in a small house in the western province of Mongolia. His wife is unemployed and stays at home. His youngest son helps in his father's business.

Mr. Huathan manages two kinds of business. First, he exports ready-made clothes to Kazakstan. The working capital of the business is 3,000,000 MNT. He conducts only the financial management of this business; his son manages sales. For the second business, he has been planting organic vegetables since this year. He successfully plants organic cucumbers and organic tomatoes in a greenhouse. Now he wants to improve his planting by expanding his fields.

He requests a 5,000,000 MNT loan. With 3,000,000 MNT he will buy a new field. With the rest of the loan he will purchase more clothes. Mr Huathan is a very sensitive businessman. He says, "I am happy to my son is starting to manage the business now that he is becoming an adult."

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,355.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,700 helped Huathan to buy a new field and to purchase more clothes.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 14, 2012
Listed
Aug 26, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014