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Mr. Munhbaatar is 38 years old and lives with his wife and two children in a small house in the Han-Uul district of Ulaanbaatar, the capital of Mongolia. He and his wife started their clothing making business in August 2012. His wife, Oyundari, who is 31 years old, has worked in a local sewing factory for nine years. They sell their product in a local store by renting a stall. Mr. Munhbaatar now has many regular customers, and they are trying to run their business successfully. They are planning to deliver their product to their customers. Therefore, Ganbold wants to buy a hybrid car for his business. He is hardworking and a smart person. He needs 3,000,000 MNT to purchase a hybrid car for his business.

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
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,200 helped Munhbaatar to purchase a hybrid car to deliver their clothing.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 23, 2012
Sep 7, 2012
Currency Exchange Loss:
Sep 17, 2014