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Damba C. is 53 years old and lives with his adult son in his own fenced house in the Songinohairhan district of Ulaanbaatar, Mongolia. His son works as a private businessman.

In 2000 Damba opened a small shop where he sold food. Since then, he managed to expand his shop into a bigger grocery store. During years of successful operation, his earnings enabled him to provide for his three other children who are now married and live separately on their own.

Damba is requesting a 3,000,000 MNT loan to purchase more products to sell at his shop. In the future, he plans to expand his grocery store into a supermarket. Damba is a hardworking and modest man and says, " My goal is to enlarge my house."

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
  • 1,270.1
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,375 helped Damba to purchase more products for his store.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Oct 25, 2010
Nov 19, 2010
Currency Exchange Loss:
Jun 20, 2012