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Tsogtbaatar
Tsogtbaatar D. is 43 years old and lives with his wife and two sons in the Hovd province of western Mongolia. He and his family live together in a ger, a traditional Mongolian nomadic tent. His two sons both attend a local high school.

Tsogtbaatar operates a retail meat business in his town with the help of his wife. He began his business in 1993 and after several years of operation, he has managed to establish himself in the business community. They purchase livestock, slaughter those livestock and sell the meat at retail prices at the local market.

Tsogtbaatar is a talkative businessman and says, "This year, (the) price of livestock has increased greatly. Only four cows can be bought at 2,000,000 MNT (Mongolian tugriks)."

He is requesting a 2,000,000 MNT loan in order to buy more livestock to sell the meat for profits.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,230.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,650 helped Tsogtbaatar to buy more livestock to sell the meat.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 16, 2010
Listed
Dec 26, 2010
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2012