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Tsedendamba C. is 63 years old and lives with his wife in Bayanhongor province in central Mongolia. He and his family live in a ger, which is a traditional Mongolian housing tent. He and his wife are retired, however, they are still capable of managing their own small business.

In 1995, the couple began their business with a slight amount of working capital, and since then the two have made a lot of progress in the business. Now they sell the products at their own store.

All of his four children live separately. Tsedendamba is a very hardworking entrepreneur and has very good character. He is focused on operating his business sustainably. Tsedendamba is proud that all his children have already established businesses of their own, so Tsedendamba and his wife can operate their food retail business for themselves only. He is requesting a 3,000,000 MNT loan to increase his working capital for his current 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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,313.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Tsedendamba to increase his working capital.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 17, 2010
Aug 20, 2010
Currency Exchange Loss:
Sep 15, 2011