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Mr. Ganbold is 42 years old and lives with his wife and two children in a small house in the Uvs province of Mongolia. His wife Natsagnyam works out of their home as a tailor. His daughter Altantsetseg, age 26, works as teacher in a local school and his son Nyamsuren, age 22, works at a mining company as an accountant. Mr. Ganbold earns a living by running a taxi service in town. His car has broken down several times recently and he needs a replacement. He is requesting a loan for 3,000,000 MNT to buy an eco-friendly hybrid car to provide taxi service in town. He and his wife are hardworking and modest people.

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,444,050
    Funds lent in using Kiva
  • 1,387.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,400 helped Ganbold to buy a new car to use in his taxi service.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Dec 18, 2012
Jan 16, 2013
Currency Exchange Loss:
Sep 17, 2014