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Degddorj, 34, is married and lives with his wife and 3 children in a 'ger', Mongolian nomadic housing tent, in Uvurhangai province, Mongolia. His oldest daughter attends a local primary school. They have been living in the same place for 6 years. He has been operating firewood trading business for 2 years. He buys the wood which comes loaded on a big truck and sells it in a local market. He owns a mini truck on which he transports the wood to the market. He transports one truckload of wood with 5 or 6 trips in his own vehicle.

Degddorj wants to buy a new and bigger truck that he can transport the wood easily and reduce his expenses for petrol. He is eager to enlarge his business so that he can make more profit to support his family without difficulty. He is a hard-working and active person who wants to become an independent businessman in the future. He is requesting a loan of 2,000,000 MNT to buy spare parts for his truck and more firewood.

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
  • 1,237.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,625 helped Degddorj to buy spare parts for his truck.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 25, 2011
Jan 27, 2011
Currency Exchange Loss:
Feb 15, 2013