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Erdenechimeg
Mrs. Erdenechimeg is 50 years old, and lives with her husband and son in a little house in Selenge province. Because of the proximity of Selenge province to the Russian border, she has been operating her clothes-trading business across the Russian border with her family for 20 years. She buys the clothes in Russia, then transports them in the car that she bought with a prior loan, and sells them in villages on the Mongolian side of the border.

She is requesting a 5,000,000 MNT loan to buy a heating system for her house so that she can have better living conditions. She has previously borrowed money for her business and has paid her debt back on time.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,367.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,675 helped Erdenechimeg to buy a heating system for her house so she can have better living conditions.
98% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 21, 2012
Listed
Aug 30, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014