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Ganhuyag is 44 years old and lives with his wife and two teenage children in the Arhangai province of central Mongolia. He and his family currently live in a rented house. His daughter, age 19, attends a vocational training center and his son, age 15, attends a local high school while his wife helps Ganhuyag with his boot-repair business.

Ganhuyag began his business in 2006 with working capital of 100,000 tugrugs (approx. 69 USD) and as a result of his hard work and good customer service, his working capital now exceeds 510,000 tugrugs (approx. 352 USD). He is working hard in order to one day own his own house and workshop and buy new work equipment. He is requesting a 1,000,000 tugrugs (approx. 690 USD) in order to purchase some necessary tools and supplies for his boot-repair 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
  • 1
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,442.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Ganhuyag to purchase some necessary tools and supplies for his boot repair.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jan 8, 2010
Jan 20, 2010
Currency Exchange Loss:
Feb 16, 2011