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Daribazar operates a clothing business from a rented shipping container in the local market. He began his business in 2007 after running a meat trading business for two years. Eventually he plans to purchase the rented container so that he can have his own work space to sell his clothing and hopefully grow his profits.

Daribazar is 41 years old and lives with his wife and 17-year-old daughter in Bayanhongor province, Mongolia. The family lives together in a ger (a traditional nomadic Mongolian tent). His daughter attends the local secondary school while his wife helps with the family business.

With his hard work and good business sense, Daribazar has been able to improve his family’s quality of life. He is requesting a 2,500,000 tugrug loan in order to purchase a large stock of winter clothes for his retail 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
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,437.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,750 helped Daribazar to purchase a large stock of winter clothes.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Dec 17, 2009
Jan 1, 2010
Currency Exchange Loss:
Jan 15, 2011