Check out some available loans that are similar to this one!
Mr. Erdenetsogt is 50 years old and lives with his daughter in a small house in the Selenge province of Mongolia. His daughter, Nandin-Erdene, age 10, goes to a local school.

He has been working in a private company for years and started his own business of handcrafts by customer order at home. His wife has left him, and he needs to take care of his daughter so he quit the job and stays home running his handcraft business. He has just built a small house for his family and is now requesting 700,000 MNT (Mongolian tugriks) to purchase insulation material to install in his new house in order to stay warm during winter. He is a hardworking, reliable and honest 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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $5,900
    Average annual income
  • 4
    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 $525 helped Erdenetsogt to purchase insulation material to install in his new house in order to stay warm during winter.
95% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 21, 2012
Jan 19, 2013
Currency Exchange Loss:
Jan 17, 2014