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Erdenebulgan
Erdenebulgan L. is 29, married, and has a three year old daughter. His family lives in a "ger" (a nomadic Mongolian tent) district in Arhanghay, one of the Mongolian central provinces. In 2004, Erdenebulgan, along with his brother, started selling bricks to local construction companies. From the beginning, the business has been doing well. Business capital has increased from 200,000 MNT ($1 USD= 1,500 MNT) to 1.5 million MNT. Erdenbulgan dreams of owning a larger brick factory that can meet the needs of larger construction companies. He hopes his only daughter will acheive a high level of education. Erdenebulgan is requesting a loan to buy construction materials for his brick baking.

Additional Information

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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,412.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,350 helped Erdenebulgan to buy construction materials for brick baking.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 3, 2009
Listed
Apr 7, 2009
Currency Exchange Loss:
Covered
Ended:
Jul 15, 2010