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Turmunh is 48 years old and lives with his wife and children in a ger in Tosontsengel province of Mongolia. His wife has a private business and his two children are high school students.

Turmunh started his business in 2006 by making Mongolian traditional shoes and biscuits at his home. He has many years of work and business experience. He is planning to expand his business activity. Turmunh is a diligent and hard working man who says "with the bank loan, I want to expand my business and increase my business income. Also I will need to pay the college tuition fees of my children soon."

He is requesting a 2,000,000 MNT loan to buy raw materials for biscuits and shoes.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,575 helped Turmunh to buy raw materials for biscuits and shoes.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Sep 28, 2011
Oct 30, 2011
Currency Exchange Loss:
Apr 17, 2013