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Muhas is 47 years old and lives with his two children and wife in a house in Hovd province of Mongolia. His two children are high school students. His wife helps Muhas to manage the family business. He started his business in 2003 by selling motorcycle spare parts trade. Usually, he purchases second hand motorbikes and then resells the spare parts from them. There is no similar business operating in the town. Thus, his income and business is stable and constant. He is an open-minded person who says, "I plan to sell my truck very soon and contribute to my business." He is requesting a 1,000,000 MNT loan to purchase new motorbikes for himself.

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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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,258.0
    Mongolia Tugriks (MNT) = $1 USD