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Bainga is 34 years old and lives with his wife and two children in a ger—a Mongolian yurt— in Ulaanbaatar, Mongolia. His wife is a kindergarten teacher's assistant and his two kids are elementary school students.

He was a bus driver from 2002-2010. Seven months ago he bought a van for his own business. Unfortunately, his new van is having some mechanical issues. He is a strong and diligent man who says: "I am very experienced in my field and have a very bright vision of my business." He is requesting a 1,000,000 MNT loan to buy parts to repair his vehicle and get tires.

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
  • 12
    View loans »
    Mongolia Loans Fundraising
  • $15,445,050
    Funds lent in using Kiva
  • 1,278.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Bainga to buy parts and tires to fix his van for his transportation business.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Sep 26, 2011
Oct 21, 2011
Currency Exchange Loss:
May 18, 2012