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Otgonbaatar is 28 years old, married, and has one child who attends school. He lives in a ger in Govi-Altai province of Mongolia. His wife helps him run his mobile phone repair and sales business. Otgonbaatar graduated from a mobile phone repair course in 2008 and started his business of mobile phone repair business in the local market.

Otgonbaatar's computer was broken and he temporarily stopped his business. He is requesting a loan for 3,000,000 MNT, which he will use to purchase a new computer and restart his business. He is a hardworking, diligent and responsible person.

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
  • $15,437,650
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Otgonbaatar to purchase new computer and restart his mobile repair business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 27, 2012
Nov 26, 2012
Currency Exchange Loss:
Sep 17, 2014