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BOLDBAATAR D. is 34 years old and lives with his wife and three children in Arkhangai province in central Mongolia. He has three sons, two of whom are university students; the youngest is in kindergarten. He has run a taxi business since 2006 and has gained much experience in the last three years.

During this time, his business has been quite successful, as Boldbaatar has increased his working capital from 250,000 to 1,000,000 MNT. He must operate the business as well as pay his sons' tuition fees from his profit and savings. He is requesting a loan in order to increase his available working capital and purchase spare parts for his car.

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

  • $5,900
    Average annual income
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,444.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Boldbaatar purchase spare parts for his car.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jul 28, 2009
Aug 17, 2009
Currency Exchange Loss:
Feb 16, 2011