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Mr.Batmunkh, 27 years old, lives with his wife and two children in an apartment in Khovd province of Mongolia. His wife Altantuya is a 27-year-old salesperson. His two children, five and two years old, go to kindergarten.

Every year, Mr. Batmunkh supplies vegetables to a military unit of Tsagaannuur Soum of Bayan-Olgii province. This year, his estimated sales for vegetables supplies is around 20 tonnes. He also started a taxi service business in 2007. Well-experienced and popular in his town, he is requesting a loan of 1,200,000 MNT to purchase two tires and vegetable inventory for his vegetable retail 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Batmunh to purchase two tires and vegetable inventory for his vegetable retail business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 19, 2012
Oct 13, 2012
Currency Exchange Loss:
Dec 1, 2014