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Nyamaahuu

Update on Nyamaahuu

Nyamaahuu is 49 years old. She lives with her husband and niece in their small house in the Hovd province of Mongolia. Her husband, Namjildorj, works at a local private company as a driver. Her niece goes to a local secondary school.

Nyamaahuu has been growing and selling organic vegetables since 1990. She started her business for family use first, then started selling the excess amount as her business later. She has built a bigger storage pit on her plot of land.

Nyamaahuu is now requesting MNT 2,000,000 to purchase a large amount of seeds and soils to prepare for next year's planting. Nyamaahuu is a hard-working, friendly, and diligent woman.

Previous Loan Details

Nyamaahuu, 48, is married and lives with her husband and five children in a ger, a traditional Mongolian yurt, in Hovd province, Mongolia. Her older daughter has graduated from college and the younger two daughters are still students. One of her sons is a pupil and the younger one is in kindergar... More from Nyamaahuu'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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Nyamaahuu to purchase a large amount of seeds and soils to prepare for next year's planting.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 28, 2012
Listed
Dec 27, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014
This photo was used before for a previous loan for Nyamaahuu. It was first posted on Kiva on May, 2011. Learn More