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Mr. Zagd is 35 years old and lives with his wife and two children in a small house in Ulaanbaatar, Mongolia. His wife, Delgertsetseg, is 35 years old. His daugther, Urangoo, is 11 years old and a student in secondary school. His son, Badral is a year old and stays at home.

Mr. Zagd has been working in Korea and just came back in Mongolia. Now he would like to start a furniture-making business, and his wife will sell the product. He is planning to build a work station for his business. He is a hardworking and able-bodied person. He is asking 4,000,000 MNT to purchase raw materials to make furniture to sell.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 1,382.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,900 helped Zagd to purchase raw materials to make furniture.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 31, 2012
Sep 20, 2012
Currency Exchange Loss:
Aug 17, 2013