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Mrs. Lhagvasuren is 55 years old and lives with her husband and son in a house in the Bulgan province of Mongolia. Her husband, Nyamganjav, is helping his wife to run their farming business. Her son Hurelbat, age 20, is a sophomore engineering student at a university. They have been breeding cattle for 26 years and have been selling organic meat products and organs of cattle to local customers for a few years. The borrower is now requesting 3,900,000 MNT to purchase forage for their cattle to feed them during the winter and spring. The borrower and her husband are hardworking and modest 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,380.3
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,850 helped Lhagvasuren to purchase forage for their cattle.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Dec 30, 2012
Jan 28, 2013
Currency Exchange Loss:
Apr 17, 2013