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Hurelhuu
Mr. Hurelhuu is 24 years old. He lives with his wife and a child in a Ger (Mongolian housing tent) in the Uvs province of Mongolia. His wife is a senior student of a local university and takes care of their child.

He has been running a taxi service in town since 2008. He has gained lot of experience and regular clients over the years. He has recently replaced his car with a better second-hand car, but it still needs some repairs and replacement spare parts are needed to operate his business smoothly with no pause.

He is now requesting loan of 1,000,000 MNT (Mongolian tugriks) to purchase spare parts and cover the repairing cost of his car to smoothly provide taxi service in town. He is a hardworking, enthusiastic and energetic young 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
  • $15,367,100
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $700 helped Hurelhuu to purchase spare parts and cover cost of repairing his car to smoothly provide taxi service in town.
89% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 25, 2013
Listed
Jun 29, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 12, 2015