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Davaahuu N. is 44 years old and the mother of two girls and two boys. She currently lives with her husband and four children in Hovd province, one of Mongolia's western provinces. Her two oldest children are 22 and 21 years old, and they currently pursue their small businesses. The 18-year-old daughter is a university student in Ulaanbaatar, the capital city of Mongolia, and the youngest child is a 14-year-old daughter who is a secondary school student.

Davaahuu sells various animal skins and hides at the local black market. She purchases sheep, goat, and cattle skins and hides from herder families in the countryside and sell them at the market at a premium. She has been in the business since 1998. Last year, her business was affected by the price drop in the commodities market due to the economic crisis in Mongolia. She says that the business is starting to pick up and the demand for commodities is slowing recovering. Thus, she requests a loan to purchase more animal skins for her business.

About XacBank

XacBank was founded in 2001 and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

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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
  • 1,443.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Davaahuu to purchase more animal skin.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 18, 2009
Nov 24, 2009
Currency Exchange Loss:
Sep 15, 2010