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Ganhuyag
Ganhuyag is a 46-year-old man who lives with his wife and two children in Arhangai province in Central Mongolia. He started his shoe repairing business in 2006 with his wife. They both have been running the business successfully. The local people have already found their business reliable and good quality. They run the business inside their fence and they plan to expand the business activity by building a new workplace and buying some necessary modern equipment.

Ganhuyag is a hardworking man who says that "I would like to expand the business activity by having a new workplace for the shoe repairs and the equipment and machineries". The total amount he is requesting is 3,500,000 MNT to build the workplace and buy the shoe repairing equipment.

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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,305.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,700 helped Ganhuyag to build a workplace and buy shoe repairing equipment.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 4, 2012
Listed
Apr 16, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2013