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Baatarzorig
Baatarzorig C. is 33 years old and lives with his wife and two daughters in a ger, a traditional Mongolian nomadic housing tent, in Hentiy Province, Mongolia. His two daughters both attend local primary school. Baatarzorig and his wife own a raw materials business in their town where they buy raw materials locally and sell the materials both at the market in Ulaanbaatar, the capital city of Mongolia, and in Nalaih city, in the remote district of Ulaanbaabar, for a profit.



He started his business in 2000 with working capital of 150,000 MNT and has built a stable operation. After years of successful operations he has managed to increase his working capital to a level exceeding 4,000,000 MNT today. Baatarzorig has gained much experience and knowledge over the years, and he hopes to use this experience and knowledge to keep his business growing.



His earnings have enabled him to renovate his house and purchase new furniture. In addition, he has used his earnings to build a new garage which is used for storage of his raw materials. With profits from his enterprise, he has also been able to greatly improve his family's standard of living. Baatazorig is a very helpful and hardworking man who is requesting a 3,000,000 MNT loan to purchase more raw materials such as sheep and goat's skin, leather and wool, etc. in order to ultimately increase his working capital.

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

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,327.2
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,275 helped Baatarzorig to purchase more raw materials.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 24, 2010
Listed
Sep 29, 2010
Currency Exchange Loss:
Possible
Ended:
Oct 26, 2011