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Nyamdavaa D. is 46 years old and lives with his wife and a child in Ulaanbaatar, the capital city of Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. His 22 year old son runs a business at Narantuul market while Nyamdavaa and his wife operate a religion items sales business at the same market. They started the business in 1999 by selling valuables and religion items which are sold from their two stalls in the market. Because he has been in business so long, he has gained many business skills, a lot of business knowledge and purchased a plot of land and a house. He says, “Our family wants to improve its living environment by planting greens and plants around the fence”. He is very hard working and open minded person. Nyamdavaa is requesting a 4,000,000 MNT loan so that he can build a garage and plant more trees and greens.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,375.0
    Mongolia Tugriks (MNT) = $1 USD