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Mr. Gaanjuur is 30 years old and lives with his wife and daughter in a little house in the Niseh district of Ulaanbaatar. His wife helps him with his business. He has been working as an assistant at a retail stall for three years and now he owns a clothes retail store in the trading center. He chose to open his retail store there because this trading center is located in the center of the city.

Mr. Gaanjuur has many customers from his previous store he used to work at. He is very experienced in this business sector.

Mr. Gaanjuur's goal is to expand his business to generate enough money to cover his family's expenses and save some money for his daughter's future. He is a diligent man who says, "Today's hard work pays for tomorrow." He is requesting a 4,000,000 MNT loan to purchase insulation materials for his house to prepare for the harsh Mongolian winter.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $5,900
    Average annual income
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD