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Munhdalai
Munhdalai is 32 years old and lives with his wife and three children in the Uvurhangai province of Mongolia. He and his family live together in a traditional Mongolian nomadic tent called a "ger". His oldest son attends a local secondary school while his youngest two daughters stay at home with his wife. Munhdalai owns his own car and is a taxi driver in town.

He started his first business in 2009 with the help of his wife by operating a cafe in a rented space. In 2010, they closed their cafe because his wife gave birth, so he started a taxi business to support his family. Munhdalai is a hardworking, modest and active man who said, "All I wish [is] to raise my children to be good people with high education so that they can live a decent life on their own in the future." He is requesting a 1,300,000 MNT loan in order to make necessary repairs to his taxi and replace parts as well as to buy furniture for his home.

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

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,242.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Munhdalai to make necessary repairs to his taxi and replace certain parts.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 18, 2011
Listed
Jan 20, 2011
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013