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Mr. Ganbaatar is 53 years old and lives with his wife and two children in a ger in Uvurhangai Province, Mongolia. His wife, Butedmaa, is also 53 years old. His older daughter, Erdentsetseg, is 25 years old. His son, Narmandah, is 23 years old. His daughter is unemployed. His son works in Ulaanbaatar - the capital city.

Mr. Ganbaatar started his oven making business in 2005 with his wife. He makes stoves, which work with small sized coal. Now that winter is approaching, customers demands are high; therefore, he needs to keep up with the demands in order to be successful. He is a hardworking and quiet-natured man. He needs 2,300,000 MNT to purchase raw materials for his business

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 1,355.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,700 helped Ganbaatar to purchase raw materials for his business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Aug 3, 2012
Aug 19, 2012
Currency Exchange Loss:
Apr 17, 2013