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Davaasuren D. is 35 years old and lives with his wife and two daughters in Mongolia's Uvurhangai province. He and his family live in a ger, a traditional nomadic tent. His older daughter, who is six years old, attends a local primary school and his younger daughter is in kindergarten. Davaasuren makes a living selling spare parts for machines. He has been in this business for more than six years and has gained significant experience as well as built a stable company. He supplements his income by selling coal and firewood. He is applying for a loan for 2,000,000 MNT to buy more spare parts to sell.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,282.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,575 helped Davaasuren to buy more items to sell to his customers.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Nov 5, 2010
Nov 10, 2010
Currency Exchange Loss:
Nov 15, 2012