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Mr.Eroolthuu is 33-years-old lives with his wife and two sons in a small house in Selenge province of Mongolia. His wife Ganchimeg, aged 33, works with her husband with transportation service business in the Russian and Mongolian boarder town. His son, Togoldor, goes to local school, and his younger son, Javhlantogs, goes to the local kindergarten. He and his wife have been running this business of transportation service in that town since 2005. They have already built closer relationships with suppliers in the Russian town. They also connect new businesses to Russian wholesalers. Mr.Eroolthuu has just built new house for his family's use and is asking for MNT 3,000,000 loan to install heating system and insulation. He is a responsible, well-organized, and hardworking person.

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
  • 1,390.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Eroolthuu to install heating system and insulation in his newly built house for his family.
100% repaid
Repayment Term
41 months (Additional Information)
Repayment Schedule
Nov 23, 2012
Dec 18, 2012
Currency Exchange Loss:
Feb 25, 2016