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Mr. Hashhuu is 42 years old and lives with his wife and 3 children in Ger in the Hovd province of Mongolia. His wife works at the local market as a salesperson. His 19-year-old daughter, Byambatsetseg, is a university student, and his two sons, Byamba-Od and Munhtsooj, ages 14 and 11, are secondary school students. He has been working as a woodworker for a private company since 2001. He has a lot of experience in the furniture manufacturing business, and now he is planning to start his own furniture manufacturing business at home. He requested 3,500,000 MNT to purchase equipment, tools and wooden materials to manufacture furniture. He is a talkative and welcoming person.

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
  • 1,389.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,525 helped Hashhuu to purchase equipment, tools and wooden materials to manufacture furniture.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Oct 20, 2012
Nov 19, 2012
Currency Exchange Loss:
Feb 17, 2014