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Tumurbaatar S. is 54 years old and lives with his wife in a ger, a traditional Mongolian nomadic tent in Uvurhangai Province in Mongolia. His son, Boldoo, 22, currently attends university and lives in Ulaanbaatar, the capital city of Mongolia.

Tumurbaatar started selling dairy products in a local market, and in 1993 opened a small cafe in his town where he and his wife produce quality meals for their customers. Since opening, this business has expanded, and he continues to sell his dairy products. For the future, Tumurbaatar plans to build a new cafe on land that he bought in order to grow his business. "I hope to build a new restaurant near the market, so that our business can grow 2-3 times larger than now," he says.

A very successful businessman,Tumurbaatar is requesting a 2,000,000 MNT loan in order to purchase grocery products and meat for his 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

  • $2,175
    Average annual income
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,308.5
    Mongolia Tugriks (MNT) = $1 USD