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Mr. Lhagvasuren is 46 years old and lives with his 2 children in an apartment in the Selenge province of Mongolia. His son Enhbold, age 27, works at a mining company as a driver, and his daughter Enhchimeg, age 25, works at a local company. Lhagvasuren has been running a shoe retail business since 1996. He has gained a lot of experience and regular customers over the years.

He is now requesting 1,500,000 MNT to purchase an inventory of seasonal shoes to sell to local customers. He is a hardworking, optimistic and responsible man who also has a good record with his previous loans at XacBank.

Additional Information

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
  • 12
    View loans »
    Mongolia Loans Fundraising
  • $15,445,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Lhagvasuren to purchase an inventory of seasonal shoes to sell to local customers.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Feb 18, 2013
Mar 22, 2013
Currency Exchange Loss:
Jan 17, 2014