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Handdorj, 70, lives with his wife and younger daughter in a house in the Sansar area of Ulaanbaatar, Mongolia's capital city. His three children are grown up and live separately, but Handdorj always helps them to make their lives better. Because he manages a shoe repair business near a crowded and busy bus stop, he has many customers and earns sufficient money. He started his business in 2005 and is planning to continue it for the foreseeable future.

A responsible man who says, "If my children are happy with their lives, I will be happy too," Handdorj is requesting a 3,000,000 MNT loan to purchase a new car for his son to start a taxi service.

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
  • 1,215.0
    Mongolia Tugriks (MNT) = $1 USD