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Naranhuu
Mr. Naranhuu is 26 years old and lives with his wife and two children in a ger, a traditional nomadic tent, in the Bayan-Ulgii province of Mongolia. His wife, Farida, stays home, taking care of their six-month-old son, Erhulan, and 5-year-old daughter, Guljan.

Naranhuu has been providing a taxi service business in town with his car for last two years and he has already built regular customers. He is planning to build a house, so his family can live in a decent place since they have a newborn and they need to stay warm during the harsh and cold Mongolian winter.

Naranhuu is now requesting loan of MNT 1,600,000 to purchase construction and insulation materials and vacuum windows, to build his house with less heat loss and coal consumption during the winter. He is a hard-working, responsible, and diligent 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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,559.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,050 helped Naranhuu to purchase construction and insulation materials and vacuum windows, to build his house with less heat loss and coal consumption during the winter.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 2, 2013
Listed
Aug 28, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014