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Mr. Davaadorj, 21 years old, lives with his wife in a ger in Hovd province of Mongolia. His wife operates a micro-business. Davaadorj and his father have been operating a taxi business using his father's car; Davaadorj is therefore an experienced taxi driver.

Now he would like to start his own transportation business by purchasing a car. He needs 2,800,000 MNT to purchase a car to start his taxi service. He is a hard-working and honest man, who wants to make a better life for his wife and future family.

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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,367.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,050 helped Davaadorj to purchase a car to start his taxi service.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 15, 2012
Aug 30, 2012
Currency Exchange Loss:
Sep 17, 2014