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Batnasan

Update on Batnasan

Batnasan is 52 years old and lives with her three children in a ger (Mongolian yurt) in Ulaanbaatar city, Mongolia. Her elder child helps with her business and her younger sons are college students.

She started her construction material retailing business in 2006 by renting a counter in the market. Over the years she gained many trusted suppliers and regular customers. She started off by selling only door locks. Now she sells various kinds of materials. She is a sharp and hardworking woman who says, "Now that my business is picking up, I am finally able to help with my son's college tuition."

She is requesting 3,000,000 MNT to purchase construction materials to increase her working capital.

Previous Loan Details

Batnasan is 51 years old and lives with her three children in an apartment in the Songino-Hairhan district of Ulaanbaatar, Mongolia's capital. Her younger sons are students while her daughter helps with the family business, a store where the family has been selling construction materials since… More from Batnasan'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
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,310.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Batnasan to purchase construction materials.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 26, 2012
Listed
May 17, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2012