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Bayarmaa
Baigalmaa is 47 years old and lives with her 3 children and husband in Bulgan province in Mongolia. For 24 years her husband works in the Orkhon Soum as a forest patrol officer. Her older daughter moved out from the house but the younger children still live with them. They live in an apartment.

Baigalmaa started her own business to sell vegetables at a rented counter of a store since July of this year. The rental payment is 500,000 MNT. It is an affordable price within the central area in Mongolia. Baigalmaa is asking a 1,500,000 MNT loan to purchase vegetables for her business. She is planning to purchase 3 tons of potatoes and 1.5 tons of carrots by wholesale rate.

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
  • 1,372.0
    Mongolia Tugriks (MNT) = $1 USD