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Tuvshin

Update on Tuvshin

Tuvshin, who is 47 years old, lives with his wife and his son in the Suhbaatar province of Mongolia. His wife Delhiitsetseg, age of 47, works as saleswoman at local bookstore. His son works at a gas station as assistant worker.

Tuvshin has been producing ice-cream out of organic milk from cattle since 2003. He is famous in the area and his business is stable. He is planning to purchase another ice-cream machine for his business. He is now requesting 600'000 MNT to purchase the ice-cream machine for his organic ice-cream production business. He is an honest and hardworking person.

Previous Loan Details

Tuvshin is 47 years old and lives with his wife in Suhbaatar province of Mongolia. Tuvshin's wife is a shop assistant and his son lives in the capital city. He has been running ice-cream retails since 2003. He started ice-cream production in 2009. Over time, he became experienced and has become… More from Tuvshin'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

  • $2,175
    Average annual income
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,389.9
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $450 helped Tuvshin to buy an ice-cream machine for his organic ice-cream production business.
97% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 21, 2012
Listed
Nov 20, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2013
This photo was used before for a previous loan for Tuvshin. It was first posted on Kiva on Feb, 2012. Learn More