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Altanchimeg
Altanchimeg is 39 years old and lives with her husband and 3 children in a small house in the Orhon province of Mongolia. Her husband Badarch, 44, runs a taxi service within the town and also helps her brother take care of livestock in the countryside during the summer. Her daughter Uranchimeg, 16, son Anhbayar, 14, and Otgonbayar, 12, go to local schools. Altanchimeg had been living in countryside herding livestock for years and moved to the province center in 2000 and started her business of organic dairy products and selling them to local customers. She has built a strong relationship with customers and suppliers. She is now requesting 600'000MNT to purchase large amounts of organic milk products to produce and sell various kinds of organic dairy products. She is a hardworking, friendly and open-minded woman who says "My daughter is going to enroll university next year and my sons are soon to be enrolled in universities so we need to start saving for our children's tuition"

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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $450 helped Altanchimeg to purchase a large amount of organic milk products to produce and sell various kinds of organic dairy products.
93% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 6, 2012
Listed
Jan 4, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014