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Tumurhuyag T. is 41 years old and lives with her husband, son, and daughter in Zavhan province in western Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent. Her husband is a photographer and both of her children attend a local secondary school. T. and her husband operate a small photography studio in their town. They offer both photography and photo printing services to their customers and run their business out of a small rented room. T. and her husband have operated their business now for many years and are very hardworking. For the future, they hope to build on their experience and expand their business. Their dream is to one day have a larger, more comfortable photo studio. T. is requesting a 2,000,000 tugrug (~1400 USD) loan to purchase a scanner and some materials used in photo processing.

About XacBank:
XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

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
  • 7
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,427.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Tumurhuyag to purchase a scanner and some materials used in photo processing.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 29, 2009
Nov 19, 2009
Currency Exchange Loss:
Jul 15, 2010