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Ganzorig
Mr.Ganzorig is 35 and lives in a house in the Huvsgul province of Mongolia with his wife and two daughters. His wife, Sodnomdash, is 31 and operates small clothing retail business in the local market; the older teenage daughter attends a local school, and the younger daughter is 2 and stays home.

They have been operating their retail clothing business, and now Ganzorig is purchasing a used car to start a taxi service business in town. He has been transporting their clothes inventory for years, and has a lot of experience driving.

He is now requesting loan of 6,000,000 MNT to purchase a used car to start his taxi service business. He is a hardworking, helpful, and kind person.

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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,703.6
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,525 helped Ganzorig to purchase a used car to start his taxi service business.
74% repaid
Repayment Term
33 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 17, 2013
Listed
Sep 21, 2013
Currency Exchange Loss:
Possible