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Byambasuren, 38, lives with his wife and three children in a ger, a Mongolian yurt, in the Arhangai province of Mongolia. His wife looks after their youngest daughter at home and the elder two go to school.

Byambasuren started his business in 2002 by purchasing his own van for a transportation business. His business is sustainable. Now that winter is approaching, he needs to replace and repair the van's engine. He is a strong and diligent man who says, "I love my work and I have a vision that someday I could buy a truck." He is requesting a loan of 3,000,000 Mongolian Tugriks (MNT) to replace his van's engine.

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
  • 1,286.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,350 helped Byambasuren to replace his van's engine.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Sep 25, 2011
Oct 25, 2011
Currency Exchange Loss:
Jun 20, 2012