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Bundan M. is 29 years old and lives with his wife and two sons in a house in Har-Horin, the ancient capital city of the Mongolian empire, in the Uvurhangai province of Mongolia. His oldest son attends a local kindergarten and his wife works for the local museum.

Bundan has been operating a public transport service between Har-horin and Ulaanbaatar, the capital city of Mongolia, since 2001. After many years of owning this business, he has built a stable operation and has gained not only much experience but also a positive reputation among his customers. With his business profits, he was able to build a house in his enclosure where the family currently lives. For the future, Bundan plans to start saving money for his children's future. He is a very business-minded and clever man and is requesting a 1,300,000 MNT loan to purchase parts and tools for his mini-bus.

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
  • 1,272.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped Bundan to purchase parts and tools for his mini-bus.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 27, 2010
Jan 11, 2011
Currency Exchange Loss:
May 21, 2011