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Hurelbaatar is 24 years old and lives with his wife and daughter in a ger – a Mongolian yurt – in the Hovd province of Mongolia. His wife is currently unemployed, while he drives a taxi in his hometown. He started his business in June, 2011, and has been able to sustain it enough so that it has become the main source of income for his family. He is planning to expand his business in the near future. He is a diligent and hard-working man who says "I bought my taxi car by taking loans. I want to finish this loan." He is requesting a 2,000,000 MNT loan to pay off his car loan.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,260.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Hurelbaatar to pay off his car loan.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 29, 2011
Oct 8, 2011
Currency Exchange Loss:
Oct 17, 2013