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Nyamdorj
Nyamdorj is 50 years old and lives with his wife and daughter in a ger, a Mongolian yurt, in the Tuv province of Mongolia. His wife is unemployed, and his daughter is a student.

Nyamdorj started his taxi business in 2010 using his own car. Even though he's fairly new to this field, he has already found regular customers. However, his car is very old, and the engine is broken down. He's requesting 1,000,000 MNT to replace his car's engine. The fact that his business provides the only income has been hard on the family. He is a sharp and hardworking man who says, "I have to do everything I can to support my family."

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
  • 1,322.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Nyamdorj to purchase a new engine for his car.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 17, 2012
Listed
Feb 29, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2012