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Tsogtbayar D. is 26 years old and lives with his wife and two year-old son in Arhangai province in central Mongolia. He lives with his family in a ger, a traditional Mongolian nomadic tent home. His wife works as a hairdresser in the hair salon. Tsogtbayar manages a raw material trading business in his town. He started his business in 2006 with a capital of 350,000 MNT. After years of experience in his trade, he has established a stable operation and a good position in the business community. Today, his working capital exceeds 1,600,000 MNT. For the future he hopes to continue to grow his business and says, "I want to supply good quality materials in the local market". He is requesting a 1,500,000 MNT loan to purchase more raw materials in order to improve 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

  • $5,900
    Average annual income
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,312.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Tsogtbayar to purchase more raw materials.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 4, 2010
Oct 11, 2010
Currency Exchange Loss:
Dec 20, 2011