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Narangerel
Ms Narangerel is 45 years old and lives with her three children in a little house in the Selenge province of Mongolia. Her eldest daughter is unemployed but she helps with her mother's business. Her oldest son is a student and her younger son goes to secondary school. She has been running a vegetable retailing business since 1997, so she has many years of experience in this business. This year she planted organic carrots, potatoes and garlic in a one hectare garden. She sells her business products at an exhibition in the capital city. She also has 44 heads of livestock (2 Cow, 29 Goat, 13 sheep), which produce wool, cashmere, and organic dairy products which she then sells in the summer. However, this is a seasonal business. Narangerel is a humble and honest woman who says ''I will pay my loan on time and expand my business". The total amount she is requesting is 1,000,000 MNT to pay the cost of the organic vegetable harvest.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,366,300
    Funds lent in using Kiva
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Narangerel to pay the cost of the organic vegetable harvest.
98% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 4, 2012
Listed
Sep 22, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013