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Ganzaya
Ganzaya is 33 years old and lives with his wife and two sons in the Khovd province of western Mongolia. He and his family live in a ger, a traditional Mongolian nomadic tent, and Ganzaya operates a taxi service in his town. He began his business in 2003 and has supported his family since then with his income. He would also like to open a meat trading business in the future so that he can improve his family’s quality of life, but for now he is focused on making his taxi service more profitable and efficient. Ganzaya is requesting a 3,000,000 tugrug (~2100 USD) loan in order to purchase repair parts and spare parts for his taxi.

About XacBank:
XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save. To get regular updates from XacBank, please join our lending team.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Ganzaya to purchase spare parts for his taxi.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 12, 2009
Listed
Nov 22, 2009
Currency Exchange Loss:
Possible
Ended:
Jun 15, 2010