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Mr. Chimedtseren is 26 years old. He lives with his wife and daughter in a ger in Bayanhoshuu district of Ulaanbaatar, Mongolia. His wife Altantsetseg, age 26, works at a local company. His daughter Dorjhand, age 4, goes to kindergarten. Mr. Chimedtseren has been working as a cobbler at a local company for years. He has just started his own business, providing cobbling services from his home. He is requesting 1,500,000 MNT to purchase starting inventory and equipment for his new business. He is hardworking, modest, and well-experienced.

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,390.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Chimedtseren to purchase starting inventory and equipment for new cobbling business.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Jan 6, 2013
Feb 5, 2013
Currency Exchange Loss:
Nov 17, 2013