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Togmid
Mr.Togmid is 45 years old and lives with his wife and three children in a house in Tosontsengel Soum, Zavhan province, Mongolia. His wife Togtohmend, age 43, runs a small cafeteria and works as the chef there. His son Ganbayar, age 18, is a university student, Ganbat, age 15, and daughter Ganchimeg, age 10 study at local schools.

This borrower has been working at a local conservation office as a patrol. His wife has been running the cafeteria for five years and has not renovated the place since. He is now requesting 5,000,000 MNT to purchase insulation material and vacuum windows for his wife's cafeteria in order to reduce the heat loss and give their customers comfortable service. He and his wife are hardworking 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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,378.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,650 helped Togmid to purchase insulation materials and vacuum windows for his wife's cafeteria.
91% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 26, 2013
Listed
Feb 26, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 25, 2014