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Mr. Monhbayar is 42 years old. He lives with his wife and son in a Ger (Mongolian housing tent) in the Govi-Altai province of Mongolia. His wife, Baasanhuu, runs a business of selling organic fruits and vegetables from a rental counter of a local market. His son, Monhbaatar, age 10, goes to a local school.

He has been running a transportation service business since 2007. He is now requesting 3,000,000 MNT (Mongolian tugriks) to purchase a large amount of organic vegetables and fruits for his wife's business to sell during winter. He and his wife are hardworking and honest people.

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

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Monhbayar to purchase a large amount of organic vegetables and fruits for his wife's business to sell during winter.
93% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Dec 25, 2012
Jan 19, 2013
Currency Exchange Loss:
Feb 17, 2014