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Tuvshinbaatar is 51 years old and lives with his wife and three children in a ger (a Mongolian yurt) in Uvurhangai province, Mongolia. His wife is unemployed. Two sons are college students and they sometimes help with their father's business.

He started his joinery business in 2001. Now he makes a lot of wood products and furniture to order. Personally, he is laconic and a strenuous worker who says, "I need to broaden my business and get more income to educate my children well."

He needs a 3,800,000 Mongolian tugrik (MNT) loan for buying wood planks and a lathe 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
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,950 helped Tuvshinbaatar to buy wood planks and a lathe.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 25, 2011
Nov 17, 2011
Currency Exchange Loss:
Nov 17, 2013