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Lhagvasuren is a 59-year-old widow who lives with her son and his girlfriend in a small house in the Bayanhoshuu district of Ulaanbaatar, Mongolia. Her son Dovdondorj, age 27, runs a taxi service business and helps his mother to run her organic vegetable business during his free-time.

The borrower has been running a business selling organic vegetables in a rental counter of a local market since 2002. She has built close relationships with suppliers and customers over the years. She is now requesting 2,000,000 MNT to purchase organic vegetables in large quantity and sell during the winter. She is a hardworking, welcoming, and kind woman.

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Lhagvasuren to purchase organic vegetables in large quantity and sell during winter.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 21, 2012
Jan 19, 2013
Currency Exchange Loss:
Jun 7, 2013