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Monhbold
Mr. Monhbold is 25 years old and lives with his wife and son in a small house in Suhbaatar province, Mongolia. His wife Enhbayar is 25 and currently stays home taking care of their 2-year-old son.

Monhbold has been providing an inter-city public transportation service between Ulaanbaatar and Suhbaatar province center since 2010. He is a well-experienced, careful driver. He is well-known among the residents for his reliable and comfortable service. He is now requesting a loan of 3,000,000 MNT to replace the heating system of his house in order to avoid burning a lot of coal or firewood during winter and to stay warm and comfortable with his family. He is a hardworking and enthusiastic 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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,740.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,725 helped Monhbold to replace the heating system of his house.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 19, 2013
Listed
Nov 19, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014