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Agichuluun
Agichuluun is 23 years old and lives with his wife and son in a ger, a Mongolian yurt, in Govisumber province of Mongolia. His wife studies at the local vocational training center, but this year, she is staying at home, taking care of her one-year-old son. Agichuluun graduated from the Buddhist Religious University in 2008. He then returned home. He provides religious services to locals. He has many clients because of his education and experience. Also, Agichuluun operates a small grocery shop. His shop is located right next to his yurt. He bought a car with his previous loan. Now he is planning to build a house and has already purchased 800 bricks. He is a diligent man who is requesting a 2,700,000 MNT (Mongolian Tughrik) loan to buy construction materials and build his house.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,237.0
    Mongolia Tugriks (MNT) = $1 USD