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Galsandorj
Galsandorj U. is a 31-year-old married woman living in Hovd province, one of Mongolia's western provinces. She lives with her family and three children. Her two children go to a local secondary school and the youngest son goes to a local kindergarten. U. drives a cab in the town. She first purchased a small car in 2008 and has been using her car as a cab.



As the city authority has recently introduced city buses for locals, the taxi business has gotten more competitive. U. now works harder and more hours in order not to lose her daily income from her taxi business. After this winter, she hopes to sell her old car and purchase a better cost-efficient and fuel-efficient Japanese car for her business. She says that with the new Japanese car, she can reduce repair and maintenance costs as well as fuel costs.



For now, she requests a loan to purchase second-hand spare parts for her old 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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,425.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,550 helped Galsandorj to purchase second-hand spare parts for her old car.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 12, 2009
Listed
Oct 16, 2009
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2010