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Gundash, 26, is married and lives with his wife and two children in Tuv province of Mongolia. They live in a house on a small plot of land that they own. His wife works at a gas station and his older daughter attends a local primary school, while his youngest daughter goes to a kindergarten. Gundash began operating a transportation business in 2008. He transports coal and other goods by his mini-truck. He is trying to increase his profits and improve the living situation of his family. He is a modest and hardworking person who said, "I would like to build a bigger house with heating where we can have a comfortable life." He is requesting a loan of 1,500,000 MNT to purchase spare parts for his car.

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
  • $15,437,650
    Funds lent in using Kiva
  • 1,216.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Gundash to purchase spare parts for his car.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Mar 16, 2011
Mar 23, 2011
Currency Exchange Loss:
Mar 18, 2012