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Berdimurat
Berdimurat S. is 38 years old and lives with his wife and four children in Bayan-Ulgiy province, Mongolia, in their own ger, a traditional nomadic housing tent. His three elder children attend a local middle school, and the youngest one stays at home. His wife helps him with his business. Berdimurat operates a machinery spare parts trading business and owns a small shop made of bricks nearby his home where he sells his products. He began his business in 2000 with a small wooden shop and after years of successful business operation, Berdimurat managed to enlarge the shop and expand his services. His spare parts trading business is quite seasonal, so he is thinking of running a business producing bricks in summertime. Therefore, he has rented a plot of land located not far from his town in order to start his brick manufacturing. Berdimurat hopes to expand his brick manufacturing within two years. He is requesting a 3,000,000 MNT loan to get started producing bricks.

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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,341.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,250 helped Berdimurat to start a business producing bricks.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 2, 2010
Listed
Aug 6, 2010
Currency Exchange Loss:
Possible
Ended:
May 21, 2011