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Soronzonbold Banzrach is a 43-year-old man and lives with his wife and 18-year-old daughter. He currently lives with his family in Arhangai province, one of Mongolia's central provinces. This is Soronzonbold's second Kiva loan. He took his first Kiva loan to purchase spare parts for his truck. But he needed more funds to repair his truck engine and other parts. Thus he is requesting a greater loan. He is a XacBank (Kiva's partner Microfinance institution) repeat client.

Soronzonbold has been in the trucking business since 1998. He owns an old Russian truck that he uses for carrying freight between his city and Ulaanbaatar, the capital city of Mongolia. His family is very supportive of his business and helps whenever he needs some help.

Soronzonbold says that he works hard to make sure that his daughter receives good education without any financial strain. Further, he dreams of exchanging his old truck for a new, powerful one.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,417.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Soronzonbold to purchase spare parts for his truck.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Aug 25, 2009
Sep 18, 2009
Currency Exchange Loss:
Mar 15, 2010