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Monhjargal is 50 years old and lives with his wife and four sons in a small house in the Dari-Eh district of Ulaanbaatar, Mongolia. His wife, Narantsetseg, age 39, runs a small grocery store in a spare part of their land. His sons Zayadelger, Buyanzaya, Oyunzaya and Nandin-Erdene go to a local school. Monhjargal has been running a taxi service since 2008. His wife has been running her small grocery store for years and has built a better commitment with customers and suppliers. He is now requesting 2,000,000 MNT to purchase construction materials to renovate his home in order to reduce the heat loss. He is a hardworking and responsible man who also has a good record in previous loans from XacBank.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

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 $1,450 helped Monhjargal to purchase construction materials to renovate his home in order to reduce the heat loss.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 26, 2012
Dec 25, 2012
Currency Exchange Loss:
Dec 17, 2013