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Zorigtbaatar E. is a father of three children and currently lives with his family in Dornogobi province, one of Mongolia's southern provinces. All his children are high school students and his wife has a small business.

Zorigtbaatar owns a small truck that he uses for his transportation business. Since 2004, he has been doing some transportation for local businesses. He usually carries luggage and bags of coal for locals. This year, he is expanding the horizon of his business and has started selling what he used to transport, such as coal. He now purchases a few tons of coal from wholesalers and sells it by the bag to locals who use coal for their stoves to heat their homes.

He requests a loan to purchase more coal for his small business.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Zorigtbaatar to purchase more coal to sell.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Nov 17, 2009
Nov 23, 2009
Currency Exchange Loss:
Jul 15, 2010