A loan of $500 helped to buy new tires for his car.

Enhtaivan's story

Enhtaivan B. is 56 years old and lives with his wife and four children in Hovd, one of Mongolia's western provinces. His children are all grown, and their ages range from 17 to 23. He owns an old car that he uses as a taxi. Since there is no public transportation in his area, business is good. Enhtaivan has been driving this cab since 2006, with help from his sons, one of whom also handles repairs. Enhtaivan has applied for this loan to buy new tires for his vehicle.

About XacBank
XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

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To lend to more Mongolian borrowers, please click here:http://www.kiva.org/app.php?page=businesses&queryString=Mongolia&status=fundRaising&gender=All§ors[]=All®ions[]=All&sortBy=Expiring+Soon

Loan details

Lenders and lending teams

Loan details