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Mr. Nyamjav is 42 years old and lives with his wife and 4 daughters in a ger in the Ih toiruu area of Ulaanbaatar, Mongolia. His wife Tungalag, age 42, helps her husband to run their small grocery store. His daughters Densmaa, age 18, Nansalmaa, age 16, Namuunbileg, age 14 and Nomingoo, age 3 go to local schools and kindergarten.

Mr. Nyamjav has been running his grocery store with his wife since 2007. He has gained lot of experience in business and built a close relationship with suppliers over the years. He is now planning to create an organic vegetables section in his store and is now requesting 3,000,000 MNT to purchase large amounts of organic vegetables to sell in his store to local customers. He is hardworking, friendly and a positive 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 Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,389.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Nyamjav to purchase a large amount of organic vegetables to sell in his store.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Feb 23, 2013
Mar 27, 2013
Currency Exchange Loss:
Feb 3, 2015