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Amartuvshin N. lives with his wife and children in their own ger, a traditional Mongolian nomadic housing tent, in Uvurhangai province, Mongolia. Amartuvshin supports his family by operating a successful taxi service in his town, an enterprise he started in 2007 after moving to his current province. For the future, he and his wife are planning to start a grocery business by renting small space where they will sell a variety of foodstuffs. His hope is to soon expand the business.

A very modest and polite man, Amartuvshin is requesting a 1,000,000 MNT loan to purchase groceries such as bread, pastries, flour, rice and candies from wholesale stores in the capital city of the province for his future grocery shop.

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
  • 1,313.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Amartuvshin to purchase groceries such as bread, pasties, flour, and rice for a new business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 8, 2010
Oct 6, 2010
Currency Exchange Loss:
Oct 19, 2011