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Oktyabri B. is 24 years old and lives with his wife and son in Hovd province in western Mongolia. His wife is unemployed and takes care of their small son.

Since 2003 Oktyabri has been working in the construction industry. Since construction work is seasonal, he wants to drive a taxi. He is requesting a 1,600,000 MNT loan to purchase a car for his taxi business. Oktyabri dreams of saving money from his new business and purchasing his own property.

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.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,328.5
    Mongolia Tugriks (MNT) = $1 USD