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Gochoohuu
Gochoohuu is 61 years old and lives with his wife in a small house in Songinohairhan district, Ulaanbaatar, the capital city of Mongolia. His wife, Purewsuren, is 60 years old. Gochoohuu managed stock raising from 1975 to 2005. In 2006 he started a cow farm business with his wife. He has 25 cows. He hires workers. Now, his business is going successfully. He supplies organic milk to a milk production company in Ulaanbaatar. He is a hardworking and quiet-natured man. He needs 6,500,000 MNT to purchase forage for his cattle, repair his barn and pay the salary for his employees.

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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,362.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,775 helped Gochoohuu to purchase forage for his cattle, repair his barn and pay the salary for his employees.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 30, 2012
Listed
Aug 29, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013