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Herlenbaatar is 33 years old and lives with his wife and daughter in Ger in the Hentii province of Mongolia. His wife works at a local school as an assistant teacher. His daughter, Amarmend, age 2, goes to local kindergarten.

Herlenbaatar has been providing a transportation service business in town. His car has been broken for a while and he has been unable to provide his business in the time since. His car needs some improvements and repairs in order for his business to run smoothly. He is now requesting 4,000,000 MNT to purchase wheels and spare parts to restart his business again. Herlenbaatar is a hardworking, responsible 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
  • 1,372.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,925 helped Herlenbaatar to purchase wheels and spare parts to restart his business again.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Jan 3, 2013
Feb 1, 2013
Currency Exchange Loss:
Jun 13, 2013