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Mrs.Ganchimeg is 30 years old and lives with her husband in a small house, in the Tolgoit area of Ulaanbaatar, Mongolia. She runs a butcher shop with her husband, Monhbaatar, at a rental counter of the local market. Ganchimeg and her husband have been in the butcher shop business for two years. They purchase meat and cattle from herders in the countryside, and sell to local customers at their counter.

They need their own vehicle, to reduce their transportation costs. Now Ganchimeg is requesting to borrow 4,000,000 MNT to purchase an eco-friendly, electric and gas-consuming car, to run their business with higher efficiency. Both borrower and her husband are hard-working and open-minded 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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,900 helped Ganchimeg to purchase an eco-friendly, electric and gas-consuming car, to run their business with greater efficiency.
90% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Jan 9, 2013
Feb 9, 2013
Currency Exchange Loss:
Aug 17, 2014