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Lkhagvadorj is 25 years old and lives with his wife and son in a Ger (which is a Mongolian yurt) in Bulgan province of Mongolia. His son goes to kindergarten. Before, he has worked in a gas station and he was a farmer. He owns 5 oxen. He is starting a business this month to sell meat in the local market. He is a hard working person who says "I have planned to expand my business in order to earn more profit and also would like to redesign my house with my business profit". He is requesting a 1,930,000MNT loan to purchase inventory for his retail meat business.

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
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,400 helped Lhagvadorj to purchase inventory for his newly started retail meat business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 28, 2012
Oct 17, 2012
Currency Exchange Loss:
Oct 17, 2014