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Mrs. Badam, a 47-year-old widow, lives with her son in a ger (traditional, round, felt tent) in Uvs province, Mongolia. Her son, Olzii-Orshih, age 25, has graduated from specialty training school, and now he is planning to start his own business, providing public transportation.

Borrower has been running a small, interior construction and design business during summers, and she works as an assistant worker in a public transportation-providing business. She is now requesting a loan of 4,200,000 MNT, to purchase an eco-friendly, electric and gas-consuming car, for her son's use in his new taxi service business. Both Badam and her son are hard-working people. She has a good record with XacBank, regarding her previous loans.

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 $3,050 helped Badam to purchase an eco-friendly, electric- and gas-consuming car, for her son's use in his new taxi service business.
100% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
Jan 18, 2013
Feb 17, 2013
Currency Exchange Loss:
Jan 6, 2016