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Tumurbaatar O. is 46, married and the father of three. All three children are attending elementary school. His family lives in a "ger" (a nomadic Mongolian tent) in Ulaanbaatar, the capital city of Mongolia.

In 1997, he started a wholesale meat business at the local market "Huchit shonhor". Tumurbaatar has an old Russian pick-up truck which he uses once every two or three months to pick up meat in Arhanghay, one of Mongolia's central provinces. He buys whole animals such as sheep, cows and horses with 4.5 million tugrugs ($1.00=1450 MNT) to re-sell for a higher price.

In 2008, his spouse, Enhtuya, joined him in his business. She rents a stall for 200,000 tugrugs at "Asait," one of the local food markets, to sell meat. Their working capital has now increased to 5.8 million tugrugs and their average monthly income is 8 million tugrugs. Tumurbaatar requests a loan to buy more whole animals to increase his business inventory.

Additional Information

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,427.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,825 helped Tumurbaatar to buy more whole animals.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 16, 2009
Apr 20, 2009
Currency Exchange Loss:
May 15, 2010