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Olzvoi is 55 years old and lives with his wife and son in eastern Mongolia. His wife is unemployed and his son goes to the middle school.

He started a garment retailing business in 2004 by getting the supplies from China. He purchases the clothes at a good price and it attracts more and more consumers. He plans to expand the business by getting the supplies in large quantities, thereby saving on transportation expenses.

He is a hardworking man who says that "I would like to extend my business activities to make it easier and more profitable". The total amount he is requesting is 3,000,000 MNT to get more garments from China for the 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
  • 1,330.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,275 helped Olzvoi to buy more garments from China.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jan 26, 2012
Feb 15, 2012
Currency Exchange Loss:
May 17, 2013