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Mrs. Ganchimeg is 26 years old, and she lives with her husband and three children in a small house in Dornogovi province, Mongolia. Her husband, Chinzorig, age 29, helps her to run their business of firewood and coal retailing in a local market. Her son, Anhbayasgalan, and daughter, Ariunzaya, go to local schools, and her younger son, Amarbayasgalan, goes to a local kindergarten.

Borrower has been running her firewood and coal retailing business in the local market, since 2008. She is now requesting a loan of 3,000,000 MNT to buy an eco-friendly, electric and gas-consuming vehicle for business use, to reduce transportation cost. She and her husband are hard-working, responsible and neat people.

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 $2,175 helped Ganchimeg to buy an eco-friendly, electric and gas-consuming vehicle for business use, to reduce transportation cost.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Jan 18, 2013
Feb 17, 2013
Currency Exchange Loss:
Dec 17, 2013