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Ganbold
Ganbold is a 51-year-old man who lives with his wife and 3 children in Dornogovi province in Southern Mongolia. He has been running an auto repair business for 7 years with his wife and children. When they moved to the center of the province, he started the business activity offering a few services inside his fence. Now the types of service have been extended and he has made many regular customers, not only in the area but from the neighboring provinces. He has just bought two broken-down cars at a lower price and is planning to buy some necessary spare parts to repair them.

Ganbold is a talented man in his field and says, "I would like to repair these two cars by buying motors and some spare parts. I plan to sell them after repairing them." The total amount he is requesting is 1,000,000 MNT to buy the motors and some spare parts for the cars.

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
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,305.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Ganbold to buy motors and some spare parts for two cars.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 10, 2012
Listed
Apr 18, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013