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Undrahbayar D. is 38 years old and lives with his wife and two children in an apartment in Tuv province of Mongolia. Both his two children attend a local school while his wife studies in the evening class in Ulaanbaatar, the capital city of Mongolia. He has been operating a public transport service between Tuv province and Ulaanbaatar since 1998. After many years of owing this business, he has built a stable operation and has gained not only much experience but also a positive reputation among his customers. With his business profits, he was able to buy an apartment in 2006, where the family now lives. For the future, Undrahbayar plans to buy a larger bigger bus with 40 seats. He is requesting a 3,000,000 MNT loan for his business.

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
  • 1,270.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,375 helped Undrahbayar to buy a larger bus.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 7, 2011
Jan 10, 2011
Currency Exchange Loss:
Sep 15, 2012