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Altangerel
Mr. Altangerel is a 57-yr-old man who lives with his wife in a house in the Arhangai province of Mongolia. His wife helps him to breed cattle and other livestock and to produce dairy products that he sells three to four times per week to local retailers. He has his own small car to transport the dairy products which keeps transportation costs lower. Altangerel is now requesting 2,500,000 MNT to purchase cattle used to increase production of his organic dairy products. He is a welcoming and hardworking person.

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
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Altangerel to purchase cattle used to increase production of his organic dairy products.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 30, 2012
Listed
Nov 16, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2013