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Gombo is 57 years old and lives with his wife in a ger, a Mongolian yurt, in Uvs province, Mongolia. His older daughter is unemployed and his younger son is a student. He manages a meat and dairy products trading business with the help his wife. His wife is responsible for selling dairy products and Gombo, himself, is responsible selling meat and meat products. He started his business in 1995 and is planning to continue it in the future. Their business was quite successful, which allowed them to buy a ger for their children and have 100 more husbandry animals for their business. He is a polite and kind man who says, "I am planning to have horses in the future." He is requesting a 2,000,000 MNT loan to purchase 40 sheep for his business.

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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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,213.0
    Mongolia Tugriks (MNT) = $1 USD