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Munhtulga is 22 years old and lives with his parents in Hovd province, Mongolia. He began operating a cell phone repair service in 2009 and he supports his parents with his profits. He is a hard-working and polite person. He wants to expand his business and increase his business revenue.

Munhtulga says, "I am planning to buy a car and start a taxi service so that I can increase my income." He is requesting a loan of 600,000 MNT as he needs extra money in addition to his savings to buy a car and operate a taxi service 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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,194.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $525 helped Munhtulga to buy a car and start a taxi service.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Mar 28, 2011
Mar 31, 2011
Currency Exchange Loss:
Apr 17, 2013