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Davaasuren
Mr. Davaasuren, 39 years old, is from Uvs province, Mongolia. He lives with wife and his son in a Ger, a traditional nomadic yurt, at his own fence and on their own land. His wife herds livestock as a farmer. His son is five years old goes to a local kindergarten. The borrower has been doing a farming business since 2010 on his small plot of land. He is a very hardworking, confident and modest man. He is requesting 1,700,000 MNT to purchase the necessary seeds and other materials for his both farming and agricultural business.

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
  • $15,397,050
    Funds lent in using Kiva
  • 1,812.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $950 helped Davaasuren to purchase seeds and other materials for his both farming and agricultural business.
36% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 13, 2014
Listed
Jun 16, 2014
Currency Exchange Loss:
Possible