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Mr. Sulbaatara is 36 years old. He lives with his wife and two sons in a house in Huvsgul province of Mongolia. His wife Otgonjargal, age 35, runs a transportation service in town. His sons Amartaivan, age 13, and Enhtaivan, age 9, go to a local school. Mr. Sulbaatara has been running a taxi service in town since 2008. His wife used to provide tailoring services at home. Now Mr. Sulbaatara is starting a business manufacturing wooden furniture on his plot of land. He is requesting a 2,500,000 MNT loan to purchase wood inventory to start his furniture manufacturing business. He is a hardworking and modest 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
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,445,050
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Sulbaatara to purchase wood inventory to start a business manufacutring wooden furniture.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Feb 22, 2013
Mar 19, 2013
Currency Exchange Loss:
Apr 17, 2015