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Munhbat
Munhbat is 41 years old and lives with his wife and four children in a ger, Mongolian traditional nomadic housing tent in Zavhan province, Mongolia. His older two daughters and son attend local secondary school while the youngest one is in kindergarten. He manages a vegetable trading business with the help of his wife. He started his business in 1982. They plant their vegetable during spring period and sell them in fall. They own 50 hectare of land and a big storage too. They gained much experience and became well-known amongst their customers. Munhbat is a hardworking man who says, "I am borrowing loan many times from Xacbank. I will do my best to pay back the loan on time." He is requesting a 1,200,000 MNT of loan to purchase potatoes and some equipment for his 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

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,210.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,000 helped Munhbat to purchase potatoes and some equipment.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 15, 2011
Listed
Apr 23, 2011
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2012