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Hayanhyarvaa is a 47-year-old man who lives with his wife and two children in their own house in Songinohairhan district, Ulaanbaatar, the capital city of Mongolia. His wife and daughter, age 23, are unemployed while his son, age 24, helps with his business. He manages a public-transportation service in Ulaanbaatar city. He started his business in 1999 with only one minibus. With 12 years of business experience, he has been able to build a good relationship both with his partners and customers. Now he owns two minibuses and earns 70,000 Mongolian tugriks (MNT) daily. He also pays 10,000 MNT of salary to his conductors per day and his net monthly profit is 400,000-500,000 MNT.

Since beginning his business operation, his living conditions have been rising tentatively. He is happy to feel improvements both in his life and in his career. He is a very delightful and cheerful person who was thankful with our bank service. He is requesting a loan of 1,500,000 MNT to repair his house in order to make his life much better.

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 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.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,202.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Hayanhyarvaa to repair his house.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 4, 2011
Apr 7, 2011
Currency Exchange Loss:
Aug 16, 2012