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Davaasuren is 37 years old and lives with his wife and 2 children in a ger in Tosontsengel soum of Zavhan province, Mongolia. His wife, Battsengel, age 34, stays home taking care of their disabled child and the family. His son Ganhuu, age 9, goes to a local primary school, and his daughter Erdenetsetseg, age 5, is a disabled child and stays home with her mother.

Davaasuren has been a herdsman for years, but he needed to move to the province center because of his child's health condition. He is now requesting 800,000 MNT to purchase starting inventory for his new business as a cobbler. He is a hardworking, positive and responsible 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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $600 helped Davaasuren to purchase starting inventory for his new business as a cobbler.
95% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 26, 2012
Dec 24, 2012
Currency Exchange Loss:
Nov 17, 2013