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Tumurbaatar is 63 years old and lives with his wife in an apartment in Tuv province in Mongolia. He manages a grocery store business in his town with the help of his wife. He started this business in 2009 and is planning to continue it in the future. They sell a variety of grocery items such as flour, rice, fruits, vegetables, etc.

Tumurbaatar is a polite and hardworking man who says, "I want to have more inventories in order to increase my business sales." He is requesting a loan of 3,000,000 MNT to purchase grocery items 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
  • 1,257.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,400 helped Tumurbaatar purchase grocery items.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 10, 2011
Jun 21, 2011
Currency Exchange Loss:
Jul 17, 2013