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Esenbol, 28, lives with his wife and his two children in a small house he owns in Bayan-Ulgii province, Mongolia. His wife studies at a vocational training center. His children are kindergarten students. He owns an old Russian car. He was assistant driver to carry baggage after finishing his driving school in 2009. His salary makes the household income. The income he generates from his work is not sufficient for him to provide for the family. So, he wants to buy a truck that saves fuel to start his own transportation business. He is a hardworking and clever man. He is requesting 3,500,000 MNT to purchase a truck that saves fuel to carry baggage.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 1,330.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,650 helped Esenbol to purchase a truck that saves fuel to carry baggage.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 26, 2012
Jun 30, 2012
Currency Exchange Loss:
Jul 30, 2014