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Mr.Togsbat is 36 years old and lives with his wife and two children in a house in the Bayanhoshuu area of Ulaanbaatar, Mongolia. His wife, Monhbayar, is 35 and produces slippers and traditional shoes at home. His son Lhagvasuren, 5, goes to a local kindergarten, and daughter Mongonzul, 13, studies at a local school.

The borrower has been working at a local market as salesperson since 2003. He has lot of experience, and is now requesting 5,000,000 MNT to purchase a starting inventory for his own clothing sales business in rental counter of the local market. He is a hardworking and diligent 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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,625 helped Togsbat to purchase a starting inventory for his own business of clothing sales in a rental counter.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Feb 28, 2013
Mar 19, 2013
Currency Exchange Loss:
Oct 2, 2014