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Davaadorj T., a 37-year-old married woman with three children, all attending a local elementary school, lives in Arhangay, one of the Mongolian central provinces. Since 2002 Davaadorj has been running a souvenir and toy stall at the local market. She started her business by travelling to Ereen, a Chinese border city, to purchase a variety of toys for 300,000 tugrugs, and as a result of her hard work, her retail sales business has expanded. Now her working capital has reached 4,000,000 tugrugs (equal to $2,800 USD).

Her husband, Lhagva-Otgon, an electrician, helps her business when he has time, and Davaadorj's hope is to eventually open her own toy and souvenir store. She is requesting a loan to purchase more toys and souvenir items from Ereen, China.

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

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,417.0
    Mongolia Tugriks (MNT) = $1 USD