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Zagar
Zagar is 34 years old and lives with his wife and three children in a ger (a Mongolian yurt) in Uvurhangai Province, Mongolia. He started his taxi service business in 2007 with his own car. Now that he has saved some money, he wants to run a garment retailing business with his wife. He has already rented a counter in the biggest market in the province and he has also contacted the supplier. In order to run a business successfully, his money is not quite enough. He is a sharp and hardworking man who says "the taxi service business is not expandable. It is basically the same thing everyday so I want to increase my income by operating a clothing sales business." He is requesting a 2,000,000 MNT loan to buy clothes for his new 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

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,575 helped Zagar to buy clothes for his new business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 25, 2011
Listed
Nov 13, 2011
Currency Exchange Loss:
Possible
Ended:
Nov 15, 2012