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Mr. Osorval lives with his wife and two children in a house in uptown Ulaanbaatar, the capital city of Mongolia. His wife, Tuulsuren, helps him with his business. His son is a college student, and his daughter goes to the secondary school. For the last 20 years, Mr. Osorval has been operating his own recycled materials business. Consequently, Mr. Osorval is well-experienced in the recycled materials trade business. His customers appreciate him as a good businessman and hardworking person. He wants to expand his business, and he needs 4,000,000 MNT to purchase another car to transport recycled materials to the trade center. As a result of this expansion, he expects major improvements in his family's living situation.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,950 helped Osorval to purchase another car to transport recycled materials.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 23, 2012
Sep 7, 2012
Currency Exchange Loss:
Sep 17, 2014