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Ahit

Update on Ahit

Mr. Ahit is 46 yrs old and lives with his wife and son in a small house in the Bayan-Ulgii province of Mongolia. His wife has operated a grocery store for years but their income is not enough to cover their family expenses. Now they are expanding and starting a vegetable retail business in their grocery store. They will grow organic vegetables on their land, then harvest and sell them in their store. His son, Janarbek, is 23 yrs old and works at a private company. Ahit runs a taxi service business. He is requesting 2,000,000 MNT to purchase organic vegetable seeds and other equipment for his wife's new organic vegetable retailing business.

Previous Loan Details

Ahit S. is 44 years old and lives with his wife and two children in Bayan-Ulgiy province, western Mongolia, in a traditional nomadic housing tent called a "ger." His elder son Bazarbek, who is 22, works for a local private company while the younger son is a student. Ahit operates a food retailing... More from Ahit's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Ahit to purchase organic vegetable seeds and other equipment for his wife's new organic vegetable retailing business.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 5, 2012
Listed
Nov 16, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013