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Mardina

Update on Mardina

Mardina is 33 years old and lives with his wife and three kids in a ger (a Mongolian yurt) in Bayan-ulgii province, Mongolia. His wife takes care of the children at home. He was an employee in major car maintenance workshop until 2010, when he opened his own workshop. He is very skilled and specializes in car exteriors. Even though he is fairly new to the business, since he was a repairman for a long time, he is well known for his fast, convenient, and excellent work. He is a sharp and diligent man who says: "It is very difficult to run a business when you buy raw materials at retail price". He is requesting 1,600,000 MNT to buy mass amounts of spare parts.

Previous Loan Details

Mardina is 33 years old and lives with his wife and three children in a 'ger', a Mongolian traditional nomadic housing tent, in Bayan-Ulgii province, Mongolia. His three children, ages 1, 3 and 5, all stay home with their mother. He manages an auto repair business with the help of his friend. He… More from Mardina's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,250 helped Mardina to buy mass amounts of spare parts.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 20, 2011
Listed
Oct 31, 2011
Currency Exchange Loss:
Possible
Ended:
Jan 18, 2012
This photo was used before for a previous loan for Mardina. It was first posted on Kiva on Apr, 2011. Learn More