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Otgon
Mr.Otgon is 32 years old and lives with his wife and two children in a little house in Tosontsengel province, Mongolia. His wife helps his business, his eldest daughter goes to the secondary school, and the younger one goes to kindergarten. He has been working as assistant in organic vegetable growing business since 2000, so he has years of experience in this area. This year, he planted organic vegetables in his brother's garden and harvested lot more than others did. Mr. Otgon is a diligent and hardworking person who says, ''I would like to buy big enough land to grow organic vegetables and expand my vegetable growing and trading business" The total amount he is requesting is 2,000,000MNT to buy more seeds to plant more organic vegetables to increase his profit and get closer to reach his short term plan.

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
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Otgon to buy more seeds to plant more organic vegetables.
94% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 7, 2012
Listed
Oct 15, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013