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Mr. Davaasambuu is 58 years old and lives with his wife and 2 sons in a Yurt, in Uvs province, Mongolia. He and his son have been operating a car repair shop since 2000. They have been living in Uvs province over 20 years. His wife is on a pension and her health is well. They have built a new workplace for their new car wash and tire repair shop. He is requesting a 2,000,000 MNT loan to buy equipment for the car wash and tire repair shop. He is a hard working and honest man.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 1,395.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Davaasambuu to buy equipment for his car wash and tire repair shop.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 7, 2012
Sep 30, 2012
Currency Exchange Loss:
Sep 17, 2014