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Update on Nyamdorj

Nyamdorj is 21 years old and lives with his wife and son in a ger (a traditional yurt) in the Arhangai province of Mongolia. His wife, Otgonbayar, age 23, works in a local specialty training school as a teacher. His son, Boldhuyag, is 1 year old and stays home with his grandmother during the day.

Nyamdorj has been running a hair salon in a rental place since 2008. He is planning to expand the hair salon since they have a baby and the family's expense has increased a lot.

He is now requesting 1,350,000 MNT to purchase equipment and tools for his own hair salon business in town. He is a well-experienced, friendly and welcoming man.

Previous Loan Details

Nyamdorj is 21 years old and lives in a ger (Mongolian yurt) in Arhangai province, Mongolia. Even though he is fairly young, he is a skilled barber who has operated his own shop since 2008. Well-known around the neighborhood, Nyamdorj's business has been growing yearly. He takes occasional hair... More from Nyamdorj's previous loan »

Additional Information

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Nyamdorj to purchase equipment and tools for his own hair salon business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 19, 2012
Jan 18, 2013
Currency Exchange Loss:
Aug 17, 2014
This photo was used before for a previous loan for Nyamdorj. It was first posted on Kiva on Mar, 2012. Learn More