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Hurmanhan is 51 years old and lives with his wife and three children in a small house he owns in Khovd province, Mongolia. His wife and older son serve in the Mongolian army, while another child is in college and a third is still in secondary school. In 2004, Hurmanhan went into the business of farming organic vegetables such as potatoes, onions and cabbage on land his brother rents. He is well known by local residents for growing produce that is high-quality, delicious and healthy. This is why he has many regular customers and would like to expand his business. He is requesting a loan for 4,000,000 MNT to buy organic vegetable seeds.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,328.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,025 helped Hurmanhan to buy organic vegetable seeds.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 6, 2012
Jul 10, 2012
Currency Exchange Loss:
Jul 17, 2013