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Chuluunbat
Chuluunbat, 25, is married and lives with his wife and one-year-old son in Uvurhangai province of Mongolia. They have been living together in a small house for the past two years. After graduating from high school, Chuluunbat started his own transportation business. Chuluunbat operates a taxi business. His business runs between his town and Ulaanbaatar, the capital of Mongolia.

Chuluunbat also helps his wife, who operates a sewing business. She started her sewing business in 2009 making traditional items such as deels, traditional clothing, and coverings for Mongolian nomadic housing tents. She got a loan from our bank to buy a sewing machine and other necessary tools for her business. She operates her sewing business in a rented space and is now popular in her area for making traditional items.

This family wants to expand their business in order to support their needs and save money for their son's future education. Chuluunbat is requesting a loan of 3,000,000 MNT to buy more tools and spare parts for his car also for his wife's sewing machine.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,245.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Chuluunbat to buy more tools and spare parts.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 17, 2011
Listed
Feb 2, 2011
Currency Exchange Loss:
Possible
Ended:
May 18, 2012