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Demeddorj, 56, is married and lives with his wife and two children in Bayanhongor province of Mongolia. They live in a ger, a Mongolin nomadic housing tent, and have a decent standard of living. His wife is retired but works as a salesperson for their son-in-law's food store. His daughter, Ichinhorloo, works as a salesperson and gets paid 200,000 MNT per month. His son operates a taxi service. Demeddorj operated a thrift shop between 2005 and 2008. He began driving a taxi as well as transporting goods with his mini-truck in 2008. Now he is trying to expand his current business and operate a spare parts store. He is a modest and hardworking person who says,: "I would like to operate a spare parts business and increase my working capital." He is requesting a loan of 2,000,000 MNT to purchase spare parts that he can sell in the market.

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
  • 1,237.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,625 helped Demeddorj to purchase spare parts.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Feb 17, 2011
Mar 11, 2011
Currency Exchange Loss:
Mar 15, 2013