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Boldoo

Update on Boldoo

Boldoo is 39 years old, married, and lives with his wife and three children in the Bayanhongor province of Mongolia. They live in a ger, a Mongolian nomadic housing tent. His wife sells beauty supplies and his children all attend school.

Boldoo began his business journey in 2000 when he opened a car repair center. In 2008, he opened a welding business which makes fireplaces. Over the years, he has gained many regular customers. His work is excellent. Now that his business is expanding, he plans to build a new business place. Therefore, he is requesting a loan of 1,450,000 MNT to purchase construction materials to finish his work place.

Previous Loan Details

Boldoo, 38, is married and lives with his wife and three children in the Bayanhongor province of Mongolia. They live in a ger, a Mongolian nomadic housing tent, on land they have owned for the past 10 years. His wife works as a distributor for a popular cosmetic company and his three children all… More from Boldoo'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
  • 1,310.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,125 helped Boldoo to purchase construction materials finish his work place.
93% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 30, 2012
Listed
Jun 1, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2014
This photo was used before for a previous loan for Boldoo. It was first posted on Kiva on Feb, 2011. Learn More