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Sambuu, aged 47, lives in an apartment with his wife and 2 children in Ulaanbaatar city. His wife works at a secondary school as a primary class teacher. His son is a college student. Sambuu was a gold beater for 10 years. Now he is running a lock solving service. He carries out this business on a call-out basis. Therefore he needs a hybrid car because he travels dozens of kilometers throughout the city to provide the service. He requires 5,000,000 MNT loan to buy a hybrid car. He thinks that he will pass on his business to his second son, as he learns the service skills.

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