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Tserendorj B. is a very decent and reliable person who lives with his daughter and wife in Uvurkhangai province, Mongolia. He started his business in 2003, selling machinery parts with his daughter. Now he is conducting his business with his wife while his daughter has started a car repair service of her own. He is known by customers to be an honest seller and everyone in his province likes to buy machinery parts from him.

He wishes to increase his sales in order to earn more profit. Now he has one container and one counter to sell his machinery parts. His budget is around in 8,000,000 tugrug (~5600 USD). From this number, you can see how good he is at his business. He is considered in his community as very experienced and intelligent. He is requesting a 3,000,000 tugrug (~2100 USD) loan to maintain and continue 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
  • 1,411.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,150 helped Tserendorj to purchase spare parts.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Aug 31, 2009
Sep 18, 2009
Currency Exchange Loss:
Feb 16, 2011