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Mr. Azjargal is 29. He lives with his wife and new baby girl Anujin, 12 months old, in a ger, a traditional nomadic yurt, in Uvurhangai province, Mongolia. His wife Nyamsuren is currently staying home to take care of their daughter. Azjargal has been providing taxi service in town since 2006. Now he needs to increase his income to cover his family expenses since they have a baby daughter and his wife is not working. He is now planning to provide transportation service inter city between Uvurhangai and Ulaanbaatar, the capital city. His car has broken down several times and needs replacement to start providing transportation service inter city. Therefore, he is requesting a loan of 2,000,000 MNT to replace his car in order to be able to provide transportation service inter city. He is a hardworking, diligent and caring father and husband.

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
  • 1,560.4
    Mongolia Tugriks (MNT) = $1 USD