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Mr.Sharkhuu lives with his wife and four children in a Ger of Tosontsengel province. He is 37 years old. He has been working at a Mongolian national boots company since 2009. He also produces a small amount at home during his free time and sells them in the center of the province and throughout the countryside by order. He has already gained alot of experience and potential customers' trust in this area. His wife helps his business. His estimated monthly profit will be between 250,000-350,000 MNT. He is planning to purchase a car to distribute products throughout the countryside. Mr.Sharkhuu is requesting 2,000,000MNT to purchase raw materials for traditional boots. He is a welcoming and reticent man who also has experience in furniture-making, and he has a dream of having a furniture-making business in the near future.

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
  • 16
    View loans »
    Mongolia Loans Fundraising
  • $15,459,050
    Funds lent in using Kiva
  • 1,374.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Sharhuu to purchase raw materials for traditional boots.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 28, 2012
Oct 19, 2012
Currency Exchange Loss:
Nov 17, 2013