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Tsolmonbaatar is a 28-year-old man living with his wife and two daughters in a ger, which is a Mongolian traditional nomadic housing tent, in Zavhan province, Mongolia. His older daughter attends kindergarten, while his younger one, who is 5 months old, stays home with her mother.

To earn a living, he manages a photo studio business in his town. Based on teaching and instruction from his brother, he started his business in 2008. At first, it was quite hard to manage his photo studio. But, through hard work, he managed to stabilize his business and to build a strong customer base. He is planning to expand his business in the future. He is a diligent man who says, "I am doing my best in order to feed my family."

He is now requesting a loan in the amount of 3,000,000 MNT ($2,400) to buy new photo equipment for his studio.

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,437,650
    Funds lent in using Kiva
  • 1,258.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,400 helped Tsolmonbaatar to purchase new photo equipment for his studio.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 22, 2011
May 4, 2011
Currency Exchange Loss:
Jul 21, 2011