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Ganchimeg
Mrs. Ganchimeg is a 60-year-old widow who lives with her daughter, aged 40, in Gobi-Altai province, Mongolia. She used to be a herder in the country-side. When she moved to the center of the province, she started selling groceries by retail in a rented store in the black market for three years.

Now she is planning to open a small food store right beside her house. She says that "There is no other food store near here so opening a small food store will be profitable". She is requesting a 1,000,000 MNT loan to buy goods from Ulaanbaatar, the capital city, for her small food store.

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
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,374.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $750 helped Ganchimeg to buy goods from Ulaanbaatar, the capital city, for her small food store.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 8, 2012
Listed
Oct 20, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014