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Lhagvasuren is 39 years old and lives with his wife and three children in a ger, the Mongolian traditional nomadic housing tent, in Hovd province, Mongolia. His three children all attend the local secondary school. He manages a meat trading business at a local market with the help of his wife. He started his business in 1998 and gained much experience. Sometimes he goes to near provinces to sell meat by using his car. He is requesting a 2,000,000 MNT loan to purchase meat and meat products for his 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
  • 1,245.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,625 helped Lhagvasuren to purchase meat and meat products to resell.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 19, 2011
Apr 29, 2011
Currency Exchange Loss:
May 17, 2013