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For the past five years Shiirev, 38, has been living with his wife and daughter in a ger, a traditional Mongolian nomadic housing tent, in Uvurhangai Province, Mongolia. Purchasing the necessary machinery parts and raw materials from Ulaanbaatar, the capital city of Mongolia, Shiirev has operated an auto repair business since 2005 and has steadily expanded his business as more and more people have bought cars in Mongolia in recent years, Previously, he operated a transportation business between Ulaanbaatar and Uvurhangai Province with his own car. His wife Tuya has been operating a hairdressing business since 2000, and also helps Shiirev's auto repair business.

Shiirev is a very hard-working person with a great business mind. He says, “I would like to expand my business and open a larger auto repair center.” He is now requesting a 3,500,000 tugrugs (~ 2450 USD) loan to purchase machinery parts at wholesale prices 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
  • 1,430.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,450 helped Shiirev to purchase machinery parts.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Mar 10, 2010
Mar 19, 2010
Currency Exchange Loss:
Sep 15, 2010