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Zorigoo, 46 years old, lives with his wife and son in a ger (traditional Mongolian yurt) in Darhan province, Mongolia. His wife Altantuya is an assistant at a local private company. Her son Zorigoo, age 24, works at a private IT company.

Zorigoo has been working at auto repair service companies since 1988. He is now planning to open his own auto repair service on his spare land. He is requesting a loan of 5,000,000 MNT to purchase necessary equipment, tools and other items to start his own business. Zorigoo is a hardworking, active and well-experienced man.

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
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,625 helped Zorigoo to purchase necessary equipment, tools and other items to start his own business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 27, 2012
Dec 27, 2012
Currency Exchange Loss:
Nov 17, 2014