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Erdenesaihan, 28, lives with his mother and younger brother in a ger (Mongolian yurt) in Tosontsengel, Mongolia. He started his building repair business with his younger brother in 2008. In the winter, he tends some local herders' livestocks. The income he generates from his business is not sufficient to provide for his family. He wants to increase his business income. Therefore, he needs to purchase some tools in order to increase his business income as well as improve his profit. Also, his younger brother is planning to marry. So he needs to buy a ger to give his brother. He is a diligent and humble man. He is requesting 1,500,000 MNT to buy a ger to give his brother.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 1,337.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,125 helped Erdenesaihan to buy a ger to give to his brother.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 4, 2012
Jul 17, 2012
Currency Exchange Loss:
Jun 17, 2013