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Kunggeibai
Kunggeibai T. is 40 years old and lives with his wife and his 7-year-old daughter in Bayan-Olgii province, one of Mongolia's western provinces. His daughter is a 2nd grader in a local high school. Kunggeibai has a small shop that offers welding service for locals. He has been in the welding business since 2005 and his business has been the main source of his family income since then. With his business profits, he has been able to finance building a small house in a small plot of land that his family owns. As there is no company that offers various welding related services in his town, he is usually busy with local customers’ orders. His short-term goal is to finish building his house with his business profits. He further says that he would like to open a savings account for his daughter.
He requests a loan to purchase raw materials for his welding business.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,439.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $225 helped Kunggeibai to purchase raw materials for his welding business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 8, 2009
Listed
Oct 13, 2009
Currency Exchange Loss:
Possible
Ended:
Oct 15, 2010