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Soronzonbold D. is 39 years old and lives with his wife and 2 children in Arkhangai province in central Mongolia. His children currently attend a local secondary school. He has operated a raw wool trade business since 2001. He started the business with an investment of 200,000 MNT and after years of profits and savings has current working capital of 700,000 MNT. <{>

He buys raw wool from local herders in the countryside and the central market in the province capital and then sells it in Ulaanbaatar, the capital of Mongolia. Thanks to the success of his business, he has a good market share. He recently bought some livestock for breeding purposes, but his main goal is to start a vegetable-growing business. He is requesting a loan to increase his working capital for the new 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
  • 1,444.0
    Mongolia Tugriks (MNT) = $1 USD