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Mr. Ganbayar is 26 years old and lives with his wife and daughter in a ger (a traditional Mongolian nomadic felt housing tent similar to a yurt) in the Uvs province of Mongolia. His wife, Battsetseg, has worked at a local meat products producing company for years now. Her daughter, Uchral, age 3, goes to a local kindergarten.

Ganbayar has been running a taxi service business in town since 2010. His car has been broken for a while and needed replacement. He is now requesting 1,000,000 MNT to purchase a better second-hand car than his to provide taxi service business in town. He is a hardworking, positive and modest man.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Ganbayar to purchase a better second-hand car than his to provide taxi service business in town.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 26, 2012
Jan 25, 2013
Currency Exchange Loss:
Nov 17, 2013