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Jargalsaihan
Mr. Jargalsaihan is 46 years old, married, and has two children. They live in the village of Selenge a province of Mongolia. His wife, Siilegmaa, works as a teacher at a secondary school. Mr. Jargalsaihan is a vegetable vendor in his village. He started a planting and selling organic vegetables business in 2008. He used to operate a clothes retail business for 8 years before that. He is a business-minded person. He buys vegetables seeds, plants organic vegetables, and sells them at retail prices the whole year long. He is planning to expand his business in order to increase his income and profit. Therefore, he requests a loan of 3,000,000 MNT to build a vegetable storing pit to reserve enough amounts of vegetables to sell throughout the 4 seasons. He is a diligent and hard working man whose purpose is to make a better future for his kids and send them to good universities to educate them better. He believes that his business will continue to grow and cover all further family expenses.

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
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Jargalsaihan to build a vegetable storing pit to reserve enough amounts of vegetables.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 12, 2012
Listed
Nov 5, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013