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Mr. Davaadagva is 52 years old and lives with his wife in a ger (traditional Mongolian yurt) in Orhon province, Mongolia. His wife, Munhbayar, is 53 years old and is going to help her husband to run his new business manufacturing Mongolian yurts. He and his wife have started making parts of Mongolian yurts. He also started planting organic vegetables this past spring. He estimates this business will be profitable enough to cover his family's expenses and to save for their grandchildren's education. He is a hardworking and open-minded person who is planning to built a storage pit to reserve vegetables to sell during colder winter months at higher prices than in the fall, when he earns the lowest prices of the year. He needs 2,500,000 MNT to purchase construction materials for building the storage pit for his organic vegetable 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 $1,800 helped Davaadagva to purchase construction materials for building a storage pit for vegetables.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 19, 2012
Nov 7, 2012
Currency Exchange Loss:
Dec 15, 2012