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Demberelsambuu L. is 58 years old and lives with his wife and three children in Baganuur, one of the remote districts of Ulaanbaatar, the capital city of Mongolia. He and his family live in an apartment. His wife is a schoolteacher, while his older daughter is a university student and his youngest daughter attends a local high school. Demberelsambuu is a hardworking man.

Demberelsambuu operates a household furniture and products trading business in a local trade center that was newly opened. His daughter suggested that he run his own business; therefore, he decided to expand his daughter's business by selling a variety of furniture, lampshades and curtains. He started this business one and half year ago and was successful in his new business within a short time.

Demberelsambuu is requesting a 3,400,000 MNT loan to increase his product line and selection due to the upcoming holidays and celebrations in autumn.

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
  • 1,275.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,675 helped Demberelsambuu to increase his product line and selection.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Sep 30, 2010
Nov 3, 2010
Currency Exchange Loss:
Oct 19, 2011