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Davaadechin S. is 27, married, and the father of one. Their son is attending kindergarten. Davaadechin’s family lives in a condominium that they own in Ulaanbaatar, the capital city of Mongolia.

Davaadechin has been running a mobile phone and accessory sales business in Tedy, the biggest cellular phone sales center in Ulaanbaatar. Once every month Davaadechin goes to Beijing, China, to buy mobile phones at a cheap price to resell them in Mongolia. His wife Urantamir looks after his shop sometimes when he goes to Beijing. Besides helping her husband, Uranchimeg runs her own grocery store.

Davaadechin requests a loan to buy more mobile phones to increase his business inventory.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,412.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Davaadechin to buy more mobile phones to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 14, 2009
Apr 23, 2009
Currency Exchange Loss:
Jun 15, 2010