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Mr.Ganbaatar is 43 years old and lives with his wife and two children in a small house in Suhbaatar district, Mongolia. His wife, Ariunaa, is a tailor. His daughter, Odonchimeg, is a college student. Hisson, Jawhlantugs, is secondary school student. Mr.Ganbaatar started working as taxi driver in 2008 with a taxi service provider company. He is well-experienced and popular in the town. He is planning to buy a car of his own to operate a taxi service independently, and he is requesting 3,000,000 MNT for the purchase of car for his business. He is well behaved and hardworking person.

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
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Ganbaatar to purchase a car for his newly-started taxi service business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 25, 2012
Oct 16, 2012
Currency Exchange Loss:
Nov 17, 2013