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Ochirjantsan, 45, is married and lives with his wife and four children in the Bayanhongor province of Mongolia. They have a decent standard of living. Ochirjantsan's wife helps him with the business and his two older children attend a local secondary school.

Ochirjantsan used to work as a carpenter for a small wood production factory until 1998, when he began operating his own carpentry business. He currently operates his business at home and is building a workshop which he wants to finish by the summer. He is a hardworking person who says, "First of all, I want to finish my workshop building and save money to build a house in the future." He is requesting a loan of 800,000 MNT to purchase more wood and materials for his woodcraft 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

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,235.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $650 helped Ochirjantsan to purchase more wood.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Mar 10, 2011
Mar 14, 2011
Currency Exchange Loss:
Mar 18, 2012