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Boldbayar, 47, is married and lives with his wife and two sons in their own house in the Sansar area of Ulaanbaatar, the capital city of Mongolia. Boldbayar's wife is an ironer at hospital No 2. His older son, age 24, graduated from college and helps with his father's business. His younger son, age 22, is a circus actor who has gone to Africa to work for a while.

Boldbayar manages a taxi service business with his older son. He started his business in 1995 and it was not as easy as it may seem. It requires great patience and hard work in order to succeed. Boldbayar is one of the lucky men who was able to stabilize his business by providing safe and comfortable rides for his customers. At first, he drove a Sonata and, a few years ago, he managed to replace it with a more advanced vehicle, a Mazda Familia. Boldbayar is planning to continue his business in the future. He is a diligent and open-minded person who says, "I would like to repair my house in order to make it as comfortable as it can be." He is requesting a 2,000,000 MNT loan to purchase new roofing material and some iron boards to repair his house.

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
  • 1,228.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,650 helped Boldbayar to purchase new roofing material and iron boards to repair his house.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Apr 11, 2011
Apr 24, 2011
Currency Exchange Loss:
Oct 26, 2011