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Turuu T. is 46 years old and lives with his wife and son in Hovd province, Mongolia. He and his family live in a 'ger', a traditional Mongolian nomadic housing tent in a rented yard. His younger son lives on his own and his older son works for World Vision, International Non-Governmental Organization.

Turuu operates a taxi service in his town. He started driving a taxi after working as a carpenter for several years. For the future, he hopes to start another business alongside his taxi service to supplement his income.

Turuu is a very honest and friendly man. He is requesting a 2,000,000 MNT loan to purchase winter clothes at wholesale prices to sell for a profit.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,275.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,575 helped Turuu to purchase winter clothes, wholesale, for resale.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 29, 2010
Nov 3, 2010
Currency Exchange Loss:
Mar 24, 2011