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Munhbayar

Update on Munhbayar

Munhbayar is twenty-nine years old and lives with his wife and two kids in Hovd province in Western Mongolia. His oldest daughter has started to go school and the younger daughter goes to the kindergarden. With his help, his wife has been doing plumbing, construction and house decoration work since 2007. In winter time he also operates a taxi business in the local town. He accepts job proposals from both individuals and offices.

Over the years, his business services have become well-known and appreciated. Munhbayar is a diligent guy who says that "Now it is getting warm and we would like to expand my business by getting a loan and spending it on the necessary plumbing materials so that we can continue with more capability to earn better so we can feed my family members".

The total amount he is requesting is 1,500,000 MNT to purchase the plumbing equipment for his construction business.

Previous Loan Details

Munhbayar D., 27 years old, lives with his wife and two daughters in Hovd province of western Mongolia. His wife, Munhtsetseg, operates a construction business specializing in house decoration and plumbing with help of Munhbayar during the warm season. His two daughters both go to kindergarten.… More from Munhbayar'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
  • 1,320.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Munhbayar to purchase plumbing equipment.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 17, 2012
Listed
Mar 12, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2012
This photo was used before for a previous loan for Munhbayar. It was first posted on Kiva on Aug, 2010. Learn More