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Bat-Erdene
Bat-Erdene, aged 25, lives with his wife and son in a Mongolian yurt in Uvs province, Mongolia. His wife's name is Oyuntsetseg and she is 25 years old. His son, Temuulen, attends kindergarten and is two years old. Bat-erdene started a taxi service business in 2012. His business' net profit is 250,000 - 300,000 MNT every month.

His wife is planning to start a perfume retail business from a rental counter. She needs 2,500,000 MNT to purchase the necessary products to start her new business. However, they only have 1,500,000 MNT. Bat-Erdene is hard-working and an open-minded person. He is requesting a 2,500,000 MNT loan in order to start his wife's new business.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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.

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,340.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,875 helped Bat-Erdene to purchase the necessary products to start his wife's new business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 24, 2012
Listed
Aug 14, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013