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Erhemmart
Erhemmart is 32 and lives with her husband and a daughter in a small house in the Bayanhoshuu area of Ulaanbaatar city, Mongolia. Her husband runs a taxi service business in town and her daughter is a local school student.

Erhemmart has been working as a saleswoman in a local market for years and started her business in a rental booth of the local market in 2005. She has been providing qualified organic fruits to local residents. She purchases from wholesalers and agriculturalists in large amounts from a bigger market.

She is now requesting a loan of 5,000,000 MNT to purchase an eco-friendly, electric and fuel consuming hybrid car to reduce her transportation costs. She is a well-organized and hardworking woman.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,690.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,975 helped Erhemmart to purchase an eco-friendly, electric and fuel consuming hybrid car to reduce her transportation costs.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 30, 2013
Listed
Nov 5, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014