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Mr. Ganbold is 50 years old and lives with his wife and 4 daughters in a ger in Uvurhangai province. His wife works as a servant in a hotel. His eldest daughter is a college student and his other daughters attend the secondary school. Mr. Ganbold worked as an ironmaster in the town's landscaping office since 1989. When his organization closed down, he started his own ironware business. He produces stacks, eco-stoves, and tanks by using broken iron, scrap metals, and rejected iron materials. He sells his products in the local market. Now he requests a 1,500,000 MNT loan to buy raw materials. He is a charitable and good natured 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.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,382.0
    Mongolia Tugriks (MNT) = $1 USD