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Soldat P. is 31 years old and lives with his wife and five children in Bayan-Ulgiy province in western Mongolia. He and his family have been living in their ger, a traditional Mongolian nomadic tent surrounded by a fence, for the past six years. His wife works in a private store as a salesperson with a monthly salary of 70,000 MNT. Of his five children, a son and daughter attend a local secondary school while his oldest son quit school to help in his father's business.

Soldat started his own company in 2005, a livestock trading business. Since 2009 he has been operating a lime-burning business with the help of two business partners and is working to build a stable operation.

In order to burn lime, he needs to transport suitable stones from eighty kilometers away and the coal that is needed for burning the lime. The price per kilogram of lime is between 350 and 500 MNT. Soldat's business is particularly busy during March and from July to October. He hopes to make his new business a success, and in the future he plans to have his own lime-burning factory.

Soldat is a hardworking and honest man and says, "All I want is to save enough money for my children's education." That is why he is requesting a 1,200,000 MNT loan to purchase a truck of lime stones at 150,000 MNT and three tons of coals for his lime-burning 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
  • 1,275.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Soldat to purchase lime stones and charcoal.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 15, 2010
Nov 3, 2010
Currency Exchange Loss:
Aug 28, 2011