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Dagvadorj, 35 years old, lives with his wife and son in a ger (Mongolian yurt) in the region of Tosontsengel in Zavhan province. His wife, Erdenetuya, is temporarily staying home to take care of their son, Batmandah, 6 years old, who goes to the local primary school.

Dagvadorj has been an assistant worker in his brother's small wooden furniture manufacturing business since 2004. He is now planning to open his own wooden furniture manufacturing in a spare ger on his plot of land. Dagvadorj is requesting a loan of 1,500,000 MNT to purchase inventory (wood) to start his wooden furniture manufacturing business. He is a hardworking, diligent and helpful 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
  • 1,399.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Dagvadorj to purchase inventory to start his wooden furniture manufacturing business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Nov 13, 2012
Dec 13, 2012
Currency Exchange Loss:
Apr 16, 2014