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Mr. Tungalagbaatar is 41 years old and lives with his wife and his daughter in apartment in Sukhbaatar province. His wife helps with his business. His older son works in a mining project and his older daughter works in small cafe in Ulaanbaatar. He started his retailing business in 2007. Now he is planning to open a small grocery store near his home. He is a hardworking and a communicative person.

He estimates that his new business profit will be enough to cover loan payments, other household expenses and business expenses. He is requesting a 2,000,000 MNT loan to purchase goods for his new grocery shop.

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
  • 1,374.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Tungalagbaatar to purchase goods for his new grocery shop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 18, 2012
Oct 21, 2012
Currency Exchange Loss:
Aug 17, 2014