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Munhbayar is a 23-year-old man who lives with his wife and two daughters in Chingeltei district, Ulaanbaatar, the capital city of Mongolia. They live in a "ger", a Mongolian traditional nomadic housing tent, in his parents' backyard. His two daughters haven’t reached school age, so they stay home with their nanny.

Munhbayar manages a grocery trading business with the help of his wife. He started his business in 2006 in a rented stall at Bumbugur trading center, one of the busiest markets in Ulaanbaatar city. His monthly rent is 140,000 MNT. Since last year his wife began to conduct their business independently and Munhbayar started working as a designer at a private company. He is a polite man who says, "My wife and I are doing our best to provide better living conditions for our children." He is requesting a 2,300,000 MNT loan to purchase more grocery products to increase his sales.

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,444,050
    Funds lent in using Kiva
  • 1,214.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,900 helped Munhbayar to purchase more grocery products.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Apr 13, 2011
Apr 21, 2011
Currency Exchange Loss:
Nov 15, 2012