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Dugarmaa
Mrs. Dugarmaa is 61 years old and lives with her husband in a small house in the Arhangai province of Mongolia. They are retired. Her husband's name is Tserendorj, and he helps with her business. She started her own felt-production business in 2005. She bought a new workplace in the ger (Mongolian housing tents) district. The ger district is not connected with social heating systems in Mongolia, where the peak cold weather reaches minus 40 degrees. To fight the coldest weather, she is planning to purchase a gas stove to heat her workplace for better working conditions. Therefore, she is requesting a 5,000,000 Mongolian tugriks (MNT) loan for that purpose. She is an honest and hardworking woman.

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
  • $15,398,050
    Funds lent in using Kiva
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,625 helped Dugarmaa to purchase a gas stove to heat her workplace for better working conditions.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 7, 2012
Listed
Sep 22, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013