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Ganbaatar
Ganbaatar S., 44, is a married man who has three children aged between 7-20. His family lives in a "ger" (nomadic housing tent) district in Arhangay, one of Mongolia's central provinces. He has been running a sales business related to livestock, traveling to neighboring provinces and purchasing raw materials. He has a Russian vehicle that is used for his business. He drives around the countryside to purchase wool, cashmere, leather and furs directly from local herders at a cheap prices. Then he transport these raw materials to the center of the province to sell to retailers at wholesale prices.



Sometime he goes to Ulaanbaatar, the capital city, to sell raw materials for higher prices. With the profit he has been building a house on the plot of land he owns. His eldest daughter Narangarav, 20, is a university student in Ulaanbaatar, the capital city. Second child Mendgarav, 18, is just graduating from high school and is planning to enroll in university this year.



Ganbaatar is working hard to complete the building of a house for his family needs and to save small amounts for his two children’s tuition. With this loan, he plans to purchase wool and cashmere at cheap prices.

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.

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,417.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,125 helped Ganbaatar to purchase wool and cashmere for his business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 5, 2009
Listed
Jun 24, 2009
Currency Exchange Loss:
Covered
Ended:
Oct 15, 2009