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Mrs. Naran is 45 years old and lives with her husband and two daughters in a small house in the Bayanzurh district of Ulaanbaatar, Mongolia. Her husband Luvsansugar, age 45, works at a local market. Her daughter Monhtsatsral, age 20, studies in the university and her younger daughter Monh-Uchral, age 5, goes to a local kindergarten. The borrower has been running a clothes retail business in a local big market for years. She imports inventory from China and brings the inventory from the railway station to the market by taxi or other transportation. She is now requesting 5,040,000 MNT to purchase an eco-friendly electric- and gas-consuming car in order to reduce her transportation expense and increase efficiency in her business. She is a hardworking, clever and honest woman.

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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,650 helped Naran to purchase an eco-friendly electric- and gas-consuming car.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Dec 16, 2012
Jan 14, 2013
Currency Exchange Loss:
Jun 28, 2013