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Erdenechimeg
Mrs. Erdenechimeg is a 31-year-old female living in the Chingeltei district of Ulaanbaatar, Mongolia. She lives with her parents and 2 children in the same house. Her parents are retired and stay at home. Her daughters, Altan (15) and Enhjin (4), attend secondary school and kindergarten, respectively. Mrs. Erdenechimeg has been running a small grocery store on her land since 2012. Her mother also works at the store while she is away purchasing inventory.

She is now requesting 4,000,000 MNT to purchase a heating system for her home in order to reduce the consumption of coal and firewood. She is a hardworking, enthusiastic woman who says, "Installing electric heating system and reducing smoke of Ulaanbaatar will be my contribution to make my home city less polluted".

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
  • $15,364,275
    Funds lent in using Kiva
  • 1,390.8
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,900 helped Erdenechimeg to purchase a heating system for her home.
90% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 6, 2013
Listed
Feb 5, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 19, 2014