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Otgontugs, 30, lives with his wife in an old small house in Ulaanbaatar, Mongolia. His wife helps with his business. He has been running his shoe production business since 2008. He makes buryad shoes and art shoes. He is well known to the customers and they always appreciate his shoes as quality. Thus, his business has had many regular customers such as art college students and art organization staffs. In this summer, Otgontugs plans to repair his old workplace in order to live and work in a comfortable environment. He is requesting 3,500,000 MNT to buy the necessary building materials to repair his workplace.

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
  • 1,337.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,625 helped Otgontugs to buy building materials to repair his workplace.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Jun 29, 2012
Jul 17, 2012
Currency Exchange Loss:
Feb 15, 2013