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Gantumur

Update on Gantumur

Gantumur is 46 years old and lives with his wife and four kids in ger (Mongolian yurt) in Uvurhangai province, Mongolia. His wife is employed, eldest kid is a college student and younger three are school students. He started his dairy product trading business in 2008. He travels through rural areas and collects dairy products, and sells it to the market traders. During the summer, he works at a construction site. He is a sharp and hardworking man who says "Now that my kid is in college, I have to work even harder in order to support him." He's requesting 2,000,000 MNT to buy mass amount of dairy to meet the holiday season demands.

Previous Loan Details

Gantumur B. is 44 years old and lives with his wife and four children in Uvurhangai province, Mongolia. He and his family live together in a 'ger', a traditional Mongolian nomadic tent home. Gantumur operates a retail dairy business in his town, together with his wife. Gantumur purchases his… More from Gantumur'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
  • 15
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,322.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Gantumur to buy mass amount of dairy products.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 17, 2012
Listed
Mar 6, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 15, 2012
This photo was used before for a previous loan for Gantumur. It was first posted on Kiva on Nov, 2010. Learn More