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Lhagvasuren
Lhagvasuren makes wooden products. He started this business in 1995. Besides his wooden product making business, he started a transportation service in 2008. He transports people's baggage and luggage throughout his province.

Lhagvasuren is 37 years old and lives with his wife and three sons in Arhangai province, Mongolia. They live in a Mongolian traditional tent called a ger. His 9-year-old and 17-year-old sons attend the local secondary school and his youngest, age 8, is in kindergarten.

Lhagvasuren is planning to maintain and continue his business. He is a very open-minded and hardworking businessman. He says, “I want to start a block manufacturing business in the near future. I made some calculations and realize that it could be a very profitable business in Mongolia.” He is requesting a 3,000,000 tugrug loan in order to purchase a large amount of wood for his wooden product making 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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,442.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Lhagvasuren to purchase wood for wooden products.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 28, 2010
Listed
Feb 20, 2010
Currency Exchange Loss:
Possible
Ended:
Feb 16, 2011