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Narangerel is 31 years old and lives with his wife and two sons in Ger in Ulaanbaatar city of Mongolia. His wife Ganzul, age 28, helps her husband and stays home taking care of their two sons. His son Bilguun, age 11, goes to a local school and son Naranzul, age 2, stays home. He has been running his retail clothes business in a local market since 2005. He has already built a strong relationship with his customers and suppliers. He imports inventory from China once or twice a month. He needs a car to reduce his transportation service expense by purchasing a car which is also an eco-friendly electric and gas consuming one. He is now requesting 5,250,000 MNT to purchase an eco-friendly electric and gas consuming car for both business and family use. He is a hardworking, communicative and responsible person.

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
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,459,050
    Funds lent in using Kiva
  • 1,390.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,800 helped Narangerel to purchase an eco-friendly electric and gas consuming car for both business and family use.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 22, 2012
Dec 18, 2012
Currency Exchange Loss:
Sep 17, 2014