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Ochirbat P. is 57 years old and lives with his wife and son in Hovd province, western of Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. His wife is retired and his son is unemployed. Ochirbat makes locks and sells them at a local market. He and his wife began their business in 2003 and the couple works hard to provide for their family's quality of life. Ochirbat is requesting a 500,000 MNT loan in order to purchase more spare parts for their 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
  • 1,359.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Ochirbat to purchase inventory and supplies.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jul 19, 2010
Jul 27, 2010
Currency Exchange Loss:
Aug 16, 2011