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Mr. Enhbold, 33 years old, lives with his parents in a ger (a traditional, round, felt tent) in Uvs province, Mongolia. His father is a herdsman, and his mother has retired and stays home. Borrower has been running a taxi service business in town, since 2010. Now he is planning to start a butcher shop business, and he is requesting a loan of 1,800,000 MNT. He will use this amount to purchase a large quantity of meat from herders, and will sell the meat to local meat retailers, at a higher price. He is a hard-working, positive and honest 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
  • 4
    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 $1,300 helped Enhbold to purchase a large amount of meat from herders, for sale to local meat retailers at a higher price.
89% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Jan 18, 2013
Feb 17, 2013
Currency Exchange Loss:
Jan 17, 2015