Erdenesuvd has been operating organic vegetable growing and sales business for more than a decade in their plot of land. They sell their produce to Ulaanbaatar city's big market retailers. She and her husband built a storage pit last year to reserve their vegetables to sell during spring when supply of organic vegetables falls and price of the produce increases.
She is now requesting a loan of 5,000,000 MNT to purchase fruit tree seedlings and also pay rental fee for her booth in the local market to sell their produce and seeds of fruit and vegetables by herself and increase their income. She and her husband are hardworking, enthusiastic and helpful people.
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 XacBankThis 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.
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Success!! The loan was 100% repaid