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Ahtai, 36 years old, lives with his wife and four children in a ger, the traditional Mongolian nomadic tent, in Bayan-Ulgii province, Mongolia. All four of his children are between the ages of 15 and 10 years old and attend a local secondary school. Ahtai is an experienced driver who, since 1997, has operated a truck transportation business carrying packages twice a month to Taikeshken, a Chinese border town, earning 1,200,000 tugrugs ( ~ 880 USD) for transporting five tons of packages there. On his way to Taikeshken he also carries flour to his other provincial customers and on his return trip transports other packages from Taikeshken.

Having developed a stable business, Ahtain is requesting a 2,400,000 tugrug (~ 1755 USD) loan to purchase a trailer with an eight-ton capacity which, according to his calculations, will help to increase his profit by 50%. An energetic person who has a great business mind, he says, “I would like to save my business profit to purchase a car which will be comfortable to use in the city.”

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,445,050
    Funds lent in using Kiva
  • 1,381.8
    Mongolia Tugriks (MNT) = $1 USD