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Ganzorig
Ganzorig, age 31, offers transportation services to earn an income. He lives with his wife Surenhuu, who recently gave birth to their daughter Haliun, now eight months old, and their daughter Hulan, who goes to kindergarten. The family lives in a "ger" (a traditional Mongolian family tent dwelling) in the Tolgoit area of the capital city of Ulaanbaatar.

Ganzorig is an enthusiastic, talkative, and hard-working man who has been running his transportation services business for years. He has been placing some of his profits into savings for some time with the goal of purchasing a second-vehicle so that he can start to offer taxi services. He needs this additional business income as soon as possible in order to cover the recent increase in family expenses, since they have a newborn baby and his wife is not working.

In order to allow him to purchase the taxi vehicle as soon as possible, Ganzorig is requesting a loan in the amount of 3,500,000 MNT. He will use his loan funds to purchase the vehicle and to start providing taxi services.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,489.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,350 helped Ganzorig to purchase a vehicle so that he can start providing taxi services.
91% repaid
Repayment Term
35 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 7, 2013
Listed
Aug 12, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014