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Ms. Munhzul is 37 years old and lives with her husband and 3 children in a small house in Ulaanbaatar. She has been working as a literary teacher in the local high school for 12 years. Her husband, Batgerel, has worked in a local private company as a woodman for many years. So he is famous in his company. They have a medium standard of living. Ms. Munhzul is requesting a 6,000,000 MNT loan to buy a hybrid car, that works by gas, a Daewoo Magnus. They need to carry their children between home to school by car. She is hardworking and helpful. They are very happy that they will have a first car.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,395.0
    Mongolia Tugriks (MNT) = $1 USD
A loan of $4,325 helped Munhzul to buy a hybrid car, that works by gas to carry their children between home to school by car.
Repayment Term
38 months (Additional Information)
Repayment Schedule
Sep 12, 2012
Sep 30, 2012
Currency Exchange Loss:
Oct 30, 2012