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Mrs. Myagmarjav, 43 years old, lives with her husband and 2 children in a rental apartment in Orhon province, Mongolia. Her husband, Lhagva-Ochir, is 43 years old and earns a salary. Her 2 children, Jargalmaa, age 20, and Bumanbayar, age 19, are both university students.

Myagmarjav has been running her grocery store since 2003 at a local market and she has now moved to a rental workplace to get closer to customers. She has built a strong relationship with her suppliers and customers over the years. She is requesting a loan of 3,900,000 MNT to purchase construction material and to install a new heating system in order to reduce heat loss. Myagmarjav is hardworking, welcoming and responsible.

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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,825 helped Myagmarjav to purchase construction material and to install a new heating system to reduce heat loss.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 21, 2012
Dec 22, 2012
Currency Exchange Loss:
Jun 26, 2013