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Tserendorj, who is 54 years old, lives with his wife and son in an apartment, in Gobisumber province. His wife works as a salesperson in a trading center, and his son goes to college.

Tserendorj studied as an electrical engineer in Mongolian Science Technology University in 2000. He worked as an engineer in his half-nephew`s company until 2010. Since 2011, he started the eco-business to import and repair solar electric generators.

Last year, because he was a winner of state tendering, he won the right to supply the solar electric system to all residents of his province. Now he sells 10 solar generators a month. He plans to import TV's, antennas, and refrigerators powered by solar energy for herders. Therefore, he is asking a MNT 3,500,000 loan for that purpose.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,382.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,550 helped Tserendorj to import TV's, antennas, and refrigerators powered by solar energy for herders.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 27, 2012
Sep 15, 2012
Currency Exchange Loss:
Nov 17, 2013