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Ariunbold is 33 years old and lives with his wife and two sons in Ger in the Uvs province of Mongolia. His wife, Purevjav, age 33, has worked with her husband in a local shoe manufacturing company since 2005. His son Lhagvasuren, age 6, has just enrolled in a local primary school, and his younger son, Choijilsuren, age 2, goes to a local kindergarten.

He has been working for a local shoe manufacturer for years, but now he is starting his own cobbler business on his plot of land. He is requesting 900,000 MNT to purchase leather and other inventory for his new cobbler business. He is hardworking, talkative and open-minded.

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
  • 1
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $675 helped Ariunbold to purchase leather and other inventory for his new cobbler business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Dec 26, 2012
Jan 25, 2013
Currency Exchange Loss:
Sep 21, 2013