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Zorigtbaatar
Zorigtbaatar G. is 39 years old and lives with his wife and three children in the Arhangai province of western Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. The two oldest children go to a local middle school. Zorigtbaatar has been making traditional Mongolian shoes by hand since 1992 and started operating a transportation business in 2008. His working capital was 60,000 MNT in the very beginning of his shoemaking and now the working capital exceeds 800,000 MNT.

Zorigtbaatar would eventually like to expand his shoemaking business. The continued growth of both businesses - transportation and shoemaking - has enabled him to purchase a car and to improve his family's quality of life. Zorigtbaatar works hard and is a modest, easygoing person. He says, “I hope to operate a stable business so that I can continue to provide for my children's education.” He is requesting a 1,000,000 MNT loan to purchase shoemaking materials such as glue, leather, rubber and tools as well as car repairing materials.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,377.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Zorigtbaatar to purchase shoemaking materials.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 8, 2010
Listed
Jun 18, 2010
Currency Exchange Loss:
Possible
Ended:
Jul 15, 2010