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Galbadrah N., 47, lives with his wife and two children in a ger (the Mongolian nomadic tent) in Arhangai Province, Mongolia. His 11-year-old son attends a local primary school, while his daughter, Arvinjargal, attends a local kindergarten. The family has been living in their current home for 19 years.

Galbadrah and his wife operate a clothes-selling business at a local market, an enterprise he started in 1990 with working capital of 300,000 MNT. After years of successful operation, his working capital is now 1,700,000 MNT. He began receiving XacBank services in 2002, and has a good credit history. Galbadrah is planning to expand his business in the future and operate a mobile clothing trading business in the countryside. An industrious person, he would like to increase his business profit and revenue and so is requesting a 1,000,000 MNT loan to purchase an array of clothing in Ereen, a Chinese border town.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Galbadrah to purchase clothing apparel for his business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 27, 2010
May 25, 2010
Currency Exchange Loss:
Nov 15, 2010