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Sumya
Sumya is 32 years old and lives with his wife in Khovd Province, Mongolia. He and his family live in a traditional Mongolian nomadic housing tent called a "ger". Sumya manages a transportation service in which he transports baggage and luggage for residents of his province. He also sells firewood, an important household heating fuel in Mongolia.

Sumya started his business in 2003 and has been quite successful over the years. He takes pride in his work and feels that he provides an important service for his customers. Sumya is focused on improving his business in the future and says, “I am working hard to feed my family.” He is requesting a 3,000,000 tugrug (~$2100 USD) loan to purchase fuel and a part for his truck.

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
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,432.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Sumya to purchase fuel and a part for his truck.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 10, 2009
Listed
Jan 4, 2010
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2011