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Monhbat
Monhbat is 27 years old and lives with his parents in a ger, a traditional nomadic yurt, in Suhbaatar province, Mongolia. His parents are retired and stay home.

Monhbat started his motorcycle repair service business in 2009. He provides well-experienced, reliable and welcoming service to his clients. He is now planning to purchase a car for 6,000,000 MNT and now needs extra investment of 2,000,000 MNT to make a purchase. He is requesting 2,000,000 MNT to purchase a car for his business use to reduce transportation expenses and increase his income.

Additional Information

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

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,680.7
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,200 helped Monhbat to purchase a car for his business to use to reduce transportation expenses and increase his income.
41% repaid
Repayment Term
39 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 30, 2013
Listed
Nov 14, 2013
Currency Exchange Loss:
Possible