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Davaadorj is 64 years old and retired. He lives with his wife and 17-year-old daughter in Ovorhangai province, one of Mongolia's central provinces. His daughter is a senior in a local high school. Since his retirement income is not enough to support his family, he has started his own small business in food retail. Davaadorj visits small country towns around the province and sells food products, including soft drinks, tobacco, baked goods and so on. When he returns to his city, he transports passengers in his van.

Davaadorj has been in this business for the last five years and acquired many customers in the countryside. He works hard to earn enough money to save up for his daughter's university tuition as she starts university next year. He is requesting a loan to purchase more food products for his business.

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
  • 1,418.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $425 helped Davaadorj to purchase food products.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 4, 2009
Jun 24, 2009
Currency Exchange Loss:
Jul 15, 2010