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Munhbat is a 42-year-old single man who lives with his parents in Arhangai province, Mongolia. He and his parents live together in a ger, a traditional Mongolian nomadic tent. Along with caring for his parents, Munhbat operates a wooden plank retail business. He purchases planks from Tsenher small administration center in Arhangai province and transports them to Ulaanbaatar, the capital city of Mongolia, where he sells them for a profit.

Since he began his business, he has been quite successful with his working capital growing to 6 million tugrugs (~4095 USD). His success has allowed Munhbat to renovate his home and hence to better care for his aging parents. He is requesting a loan of 1,400,000 tugrugs (~ 975 USD) in order to purchase a large amount of wooden planks for his 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

  • $5,900
    Average annual income
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,452.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Munhbat to purchase a large amount of wooden planks.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jan 12, 2010
Jan 18, 2010
Currency Exchange Loss:
May 21, 2011