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Tuul is 32 years old and lives with his wife and three children in a ger (Mongolian yurt) in Bayanhongor province, Mongolia. His wife babysits her youngest daughter at home and the other two children are school students. Tuul operates a clothes-selling business. He started his business earlier this year by buying a 20-foot container at the market. His business is doing very well. Now that winter is approaching, he needs warmer clothes to sell. He is requesting 1,000,000 MNT to buy winter clothes. Tuul is a sharp and diligent man who says, "Even though I'm fairly new to the business, the income is fairly good and I have a mission to build my own store one day."

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
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Tuul to buy winter clothes to sell.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 28, 2011
Nov 21, 2011
Currency Exchange Loss:
Aug 16, 2012