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Chimedhorloo
E. is 53 years old and lives with his wife and 18-year-old daughter in the Chingeltei district of Ulaanbaatar, the capital city of Mongolia. He and his family live in a ger, a traditional Mongolian nomadic tent, in one of the ger districts on the outskirts of the large city. His daughter attends university and his wife sells accessories like gloves and glasses in the Narantuul market, the largest and busiest markets in the city.



E. operates a microbus transportation service and takes passengers from one side of Ulaanbaatar to the other. He began his business in 2000 by renting his friend's microbus and, after several years of hard work and saving, he managed to buy his own vehicle. He says, “I work hard every day to improve my business in order to improve my family’s quality of life.” E. is requesting a 2,300,000 tugrug loan in order to purchase repair parts for his microbus.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,439.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Chimedhorloo to purchase repair parts for his microbus.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 28, 2009
Listed
Oct 21, 2009
Currency Exchange Loss:
Possible
Ended:
Oct 15, 2010