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Jantsandorj, 37, lives with his wife and children in a ger, a Mongolian yurt, in Tsogttsetsii soum, Umnugovi, Mongolia. His two children are high school students and his wife is unemployed. In 2010, he started a business producing bricks. This year, he started another business, a tire repair service. His family supports him and the business. He is a diligent and hardworking man who says, "Although making bricks is a profitable business, it is hard to make them in winter. So, during the winter, I want to run this car and tire repair service." He is requesting a 3,000,000 MNT loan to buy equipment for the tire repair service.

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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
  • 1,257.0
    Mongolia Tugriks (MNT) = $1 USD