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Damdin
Damdin is 53 years old and lives with his wife in Ger, in Bayanhoshuu district of Ulaanbaatar, Mongolia. His wife, Gandolgor, is retired and stays home, helping with Damdin's business of preserved, organic vegetable production and sales. Damdin's five children are all married and live separately.

Damdin has been operating his preserved, organic vegetable production and sales business since 2011. He rents his workplace, working together with his wife and older son, Gerelt-Od.

Damdin is now requesting 1000000 MNT to purchase a bulk amount of organic vegetables in order to produce more preserved vegetables to sell to local customers. He is a hard-working, enthusiastic, and honest 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,390.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Damdin to purchase a bulk amount of organic vegetables in order to produce more preserved vegetables to sell to local customers.
95% repaid
Repayment Term
17 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 18, 2012
Listed
Dec 18, 2012
Currency Exchange Loss:
Possible
Ended:
May 2, 2014