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Chinzorig
Mr. Chinzorig is 22 years old and lives alone in a Ger in the Arhangai Province of Mongolia. He has been working as an assistant in his sister's organic dairy products sales business in a local market. He purchases organic dairy products from herders around town with his car and sells them for retail price. He is now planning to start his own business of selling organic dairy products at a rental counter at the local market. He is requesting a loan of 2'000'000 MNT to purchase large amounts of organic dairy products from herders to sell in the local market. He is a hardworking, friendly and welcoming man.

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
  • 1,387.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Chinzorig to purchase large amounts of organic dairy products from herders to sell in a local market.
96% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 18, 2012
Listed
Jan 16, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2013