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Mr. Sharavnyam is 54 years old and lives with his wife and 2 children in a house in the Suhbaatar district of Ulaanbaatar, Mongolia. His wife Oyunchimeg used to work in various fields and is now helping her husband produce metal products. Their children Zoljargal and Azjargal are married and live on their own. Sharavnyam has started his own business producing metal products and is now requesting a loan of 2,000,000 MNT to purchase equipment and tools to run his new business smoothly. He and his wife both are hardworking and welcoming people.

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
  • 1,376.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Sharavnyam to purchase equipment and tools to operate his metal products business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Jan 26, 2013
Feb 26, 2013
Currency Exchange Loss:
Jan 17, 2015