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Myagmardorj
Myagmardorj is 31 years old and lives with his wife and 8-year-old daughter in Tosontsengel, Zavhan province, Mongolia. His wife, Shinetogtoh, 32, works at a small cafeteria. He has been operating his transportation business for three years now. He is planning to buy a truck and operate a recycling business by picking up recyclable items from households and selling them to recycling small manufacturers or retailers of recycled waste. His estimated profit will be enough to cover his family expenses. He will save any excess amounts to build a house for his family and save for his daughter's education. He is a modest, helpful and hard-working man. He is requesting 1,500,000 MNT to buy a truck to start his recyclable waste transporting 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

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Myagmardorj to buy a truck to start his recyclable waste transporting business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 6, 2012
Listed
Nov 7, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2013