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Suhgerel M. is a 39-year-old, hardworking man who lives with his wife and 4 children in Hovd province, Western Mongolia. His 3 older children attend a local secondary school, while the youngest stays at home.

Suhgerel started a taxi service in 2002. He sold his own herds for cash to buy a car that he could use as a taxi. His wife also runs a clothing business at the local market to help him to provide for the family. Their plan is to build a nice, big house to improve their quality of life and, also, to get a shipping container at the market which his wife can use as a workplace. The couple will work very hard to achieve their goals in the coming two years.

Suhgerel is requesting a 2,000,000 MNT to purchase spare parts for his car and more goods for the clothing 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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,444,050
    Funds lent in using Kiva
  • 1,278.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,575 helped Suhgerel to purchase spare parts for his car.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 15, 2010
Oct 31, 2010
Currency Exchange Loss:
Mar 18, 2012