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Bolathan
Mr. Bolathan is 56 years old and lives with his wife in a ger (traditional felt tent) in the Hovd province of Mongolia. His wife Sailau helps her husband to run their family business of growing and selling organic vegetables. Bolathan and his family have been growing and selling organic vegetables on his plot of land since 1996, and they have gained a lot of experience in the business. He has built close relationships with retailers in local markets over the years and sells his products to them. He is now applying for a loan of 2,000,000 MNT to buy seeds and soil for the planting season. He is planning to plant more organic vegetables this year, to increase his family income.

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
  • $15,360,225
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,400 helped Bolathan to buy seeds and soil for the planting season at his organic vegetable farm.
92% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
May 21, 2013
Listed
Jun 26, 2013
Currency Exchange Loss:
Possible
Ended:
May 17, 2014