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Tsagaanbaatar is a 55-year-old man who lives with his wife and daughter. His wife is a cook, but she has been helping her husband with his carpentry work since 2010. His daughter, who is 22 years old, graduated from university.

He started his business in 1990 by making small wood products. Now his business is doing well. He is confident that his business will be successful. His dream is to teach the next generation about wood products and techniques. He is requesting a loan in the amount of 1,500,000 MNT to purchase more wood.

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

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,258.0
    Mongolia Tugriks (MNT) = $1 USD