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Tileu is 37 years old and lives with his wife and child in a ger, a Mongolian yurt (nomadic tent), in the Bayan-Ulgii province of Mongolia. His wife is unemployed. He started a family business of selling meat in 2010. Aside from the family business, he has a full-time job. However, his family business is only active in the fall season. He is planning to purchase more animals and to store their meat during this time of year. He is a hardworking and diligent man who says "I want to expand my business and increase my capital turnover." He is requesting a 700,000 MNT loan to purchase livestock from the countryside.

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
  • 1,262.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Tileu to purchase livestock from the countryside.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 27, 2011
Oct 9, 2011
Currency Exchange Loss:
Dec 15, 2012