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Davaasambuu
Mr. Davaasambuu is 50 years old and lives with his wife and 4 sons in a ger (a traditional Mongolian nomadic felt housing tent similar to a yurt) in the Uvs province of Mongolia. His wife, Davaasuren, has operated an organic vegetable retail business from a rental counter at a local market since 2003. His 4 sons, aged between 18 and 25, helps their family's business of organic vegetable growing and sales.

Davaasambuu has been growing and selling their organic vegetable in a greenhouse from May to October and also provides a small wooden furniture manufacturing business at home. They are planning to plant fruit trees on their plot of land.

He is now requesting 7,000,000 MNT to purchase 2 greenhouses and sea buckthorn trees to plant on their plot of land. Davaasambuu's family are hardworking, positive and enthusiastic 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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,430.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,900 helped Davaasambuu to purchase 2 greenhouses and sea buckthorn trees to plant on their plot of land.
59% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
May 5, 2013
Listed
Jun 5, 2013
Currency Exchange Loss:
Possible