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Mr. Ganhurel is 39 years old and lives with his wife and three children in a Ger (Mongolian housing tent) in the Huvsgul province of Mongolia. His wife, Narantsetseg, age 38, works as saleswoman in a local grocery store. His son Baasannyam is currently unemployed, while his daughter, Baasanjargal, age 14, and son Buyanbadrah, age 10, study at local schools.

He has been running his inter-city transportation service business for 15 years. He is an experienced, hardworking and energetic man. He is now requesting 800,000 MNT (Mongolian tugriks) to purchase a small car to let his son to start a taxi service business.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Ganhurel to purchase a small car to let his son to start a taxi service business.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Feb 3, 2013
Mar 6, 2013
Currency Exchange Loss:
Oct 17, 2013