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Nyamdorj
Nyamdorj L. is a 49-year-old and lives with his wife and daughter in Hovd province, Mongolia. The family lives together in a 'ger', a traditional Mongolian nomadic tent. His daughter, age 6, attends a local primary school while his wife works as an accountant for the university and during her free time, helps Nyamdorj by preparing financial reports for his business.

Nyamdorj owns and operates a tailoring factory called " Buteelch Zuu" (meaning Productive Needle) which was started in 2010. Before he began his current business, he used to operate two kinds of businesses including raw materials and flour trading businesses and has gained much experience as a businessman.

For the future, he hopes to expand his business and remodel both his workplace and house using his future business earnings. With his loan, he is planning to purchase a large amount of materials and supplies in order to meet the high demand for upcoming Mongolian and European New Year holidays.

Nyamdorj is a very modest man. He is requesting a 3,000,000 MNT loan to purchase more clothing fabrics and materials for his growing 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,235.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,450 helped Nyamdorj to purchase more clothing fabrics and materials.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 29, 2010
Listed
Dec 2, 2010
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2012