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Tuvshintugs is 30 years old and lives with his wife and three children in a house in Uvs province of Mongolia. His older daughter goes to a local secondary school while younger two are in kindergarten. He manages an eyewear trading business with the help of his wife in their town.

Tuvshintugs started his business at a rented stall at a local market in 2008. Now they sell variety of eyewear for all ages. In addition he works as a welder in order to supplement his earnings. The eyewear business is the only source of income for their family. So they work hard to expand their business. Now their working capital exceeds 3,000,000 MNT. Tuvshintugs is a hardworking man who says, "One has to be healthy to live happy." He is requesting a 1,500,000 MNT loan to purchase more goods for his 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
  • 1,216.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Tuvshintugs to purchase more eyewear goods.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 27, 2011
May 27, 2011
Currency Exchange Loss:
Oct 22, 2011