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Monhbayar is 39 years old and lives with his parents and sister in a ger in Suhbaatar district of Ulaanbaatar, Mongolia. His parents are both retired and stay at home. His sister works for a private company.

Monhbayar has been running a taxi service within the area since 2010. He has been driving around the city and knows every location and the ways to drive there. He is a very experienced driver and a well-behaved person.

Monhbayar is now requesting a loan of 3,500,000 MNT to change his car into an eco-friendly electric and gas car for his taxi service. He is a hard-working and welcoming 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
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,525 helped Monhbayar to change his car into an eco-friendly electric and gas car for his taxi service.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Nov 26, 2012
Dec 26, 2012
Currency Exchange Loss:
Jun 17, 2014