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Ganhuyag, 37, lives with his wife and 2 sons in a small house in the Bayanhoshuu district of Ulaanbaatar, Mongolia. His wife Gantuya, 33, works at a local company as an assistant worker. His sons Nyambayar, 8, and Lhagvabayar, 5, go to the local primary school. The borrower has been running a grocery store in his neighborhood for 6 years. He purchases inventory wholesale and brings it to his store with rented transportation. He is now requesting 3,000,000 MNT to purchase an eco-friendly hybrid car to reduce his transportation expenses. He is a well-experienced, hardworking and open-minded 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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Ganhuyag to purchase an eco-friendly hybrid car to reduce his transportation expenses.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 24, 2012
Jan 22, 2013
Currency Exchange Loss:
Dec 17, 2014