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Altangerel
Altangerel P. is 32 years old and lives with his mother, siblings and infant daughter in Uvurhangai province in central Mongolia. He and his family live together in a ger, a traditional Mongolian housing tent. His mother operates a salt trading business, while he operates a machinery parts trading business in his town. He started his business in 2007 by selling motorcycle parts and providing a car repair service. Over the years, he has gained much experience in his trade and always tries to grow and improve his business. He has built a stable business and positive reputation among his customers, and today his working capital exceeds 1,000,000 MNT. His earnings have enabled him to have his own workplace. For the future, he hopes to expand his business by increasing his working capital, to improve his family's standard of living. Altangerel is a hardworking man and is requesting a 1,700,000 MNT loan to buy supplies for his motorcycle parts trading business.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,210.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Altangerel to buy supplies for his motorcycle parts trading business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 2, 2010
Listed
Dec 17, 2010
Currency Exchange Loss:
Possible
Ended:
May 18, 2012