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Mr. Tsogtbayar, age 50, lives with his wife and 2 children in a little house in Zavhan province. His wife is a seasonal worker and his 2 children own their private businesses. Mr. Tsogtbayar has been managing his own business of trading organic dairy products since 2006. He buys various kinds of organic dairy products from the countryside at wholesale prices and sales them for retail. He has been shipping the organic dairy products from the countryside with his old car for many years. He is requesting a 3,500,000 MNT loan for changing his car. He decided to buy a new car from Ulaanbaatar city. Mr. Tsogtbayar is an honest man.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,437,650
    Funds lent in using Kiva
  • 1,355.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,600 helped Tsogtbayar to buy a new car for shipping the organic dairy products from the countryside.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 9, 2012
Aug 18, 2012
Currency Exchange Loss:
Sep 17, 2014