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Ganbaatar
Mr.Ganbaatar is 27 years old and lives with his wife and a daughter in a ger, a traditional nomadic tent, in Uvs province of Mongolia. His wife Narantsetseg runs a small business: a general store in a rental booth of a local market. His daughter Hulan is four and goes to local kindergarten.

Ganbaatar helps his wife to run their family general store at the local market and also works part-time at a local construction company as an assistant worker during constructional season; he provides taxi service business during winter time.

He is now requesting loan of MNT 3,000,000 to purchase insulation material to install in his newly built small house so his family can stay warm during winter and have a comfortable living condition.

He is a hard-working, diligent man.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,697.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Ganbaatar to purchase insulation material to install in his newly built small home.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 25, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014