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Chimed-Ochir
Mr. Chimed-Ochir is 36 years old and lives with his wife and two children in a small house in the Uvurhangai Province of Mongolia. His wife, Tserendegd, is 41 and helps her husband to run their organic flour retail business in a rental booth of a local market. His two children attend local schools.

Chimed-Ochir started his organic flour retail business in the rental booth of a local market with the help of his wife in 2007. He increased his variety of products, and now he sells flour, bran (as forage for livestock), rice and sugar in his booth. His older daughter is soon to be a university student, and he and his wife are starting to save for their daughter's further education.

He is now requesting a loan of 3,000,000 MNT to purchase a large amount of organic flour to sell to local residents. He is a hardworking, thoughtful and responsible 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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,366,300
    Funds lent in using Kiva
  • 1,697.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,775 helped Chimed-Ochir to purchase large amounts of organic flour to sell to local residents.
99% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 26, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 4, 2014