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Baasandorj T., 43, lives with his wife and three sons in the Hovd province of Mongolia. The family live live together in a ger, a traditional Mongolian nomadic tent, in his brother's fence. The older two children attend a local high school and the youngest son is in kindergarten.

Baasandorj and his wife operate the family business, a car repair service and machinery parts trading business, in their town, out of a rented shipping container. They started this business in 1996 and have since built a stable operation. At first, the couple rented a small stall to sell a variety of machinery parts but after a year of successful business operation, they managed to expand their business by renting a bigger work place, which is the container. Their earnings have enabled them to buy a plot of land and they hope to one day move to this land, after building a fence and connecting power.

For the future, Baasandorj plans to expand his car repair service. He is a hardworking man and is requesting a 2,500,000 MNT loan to renovate his old tools and equipment for his car repair service and purchase more machinery parts from Ulaanbaatar, the capital city of Mongolia, to sell at his container.

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
  • 1,235.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,025 helped Baasandorj to renovate his old tools and equipment and purchase more machinery parts.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 15, 2010
Jan 10, 2011
Currency Exchange Loss:
Jan 15, 2013