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Odgerel is 24 years old and lives with his daughter and wife in a ger (a Mongolian yurt) in Hovd province in Mongolia. His wife is unemployed and stays at home.

Odgerel started working in 2008 at Tsahiur Mandal LLC as a carpenter. His profession is in high demand from April to October but in low demand from December to March. Besides being a carpenter, he also drives a taxi. He earns 200,000 MNT per month from his taxi service.

Odgerel is requesting a 1,600,000 MNT loan to make the payment on his taxi. He wants to become an independent carpenter with the income from his taxi service and Tsahiur Mandal salary. He is a diligent man who asserts, "I want to open my own private business very much."

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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,259.5
    Mongolia Tugriks (MNT) = $1 USD