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Iderbaatar
Iderbaatar is 48 years old and lives with his wife and son in a ger, in Huvsgul province, Mongolia. His wife, Oyunhuu, is 48 years old, and is unable to work. His son, Mungun shagai, is 26 years old, and works at Bridge group.

Iderbaatar started to make furniture for ger (Mongolian yurt) in 1990. A ger is Mongolian nomadic tent, consisting of a wooden frame, felt walls and felt insulation. Gers are designed to be easy to take apart, transport and reconstruct, and are environmently friendly compared to construction of a house or an apartment.

Custumors appreciate his products as quality and fashionable. Iderbaatar wants to expand his business in order to increase his business income. He is a well-experienced and hardworking man. He would like MNT 3,000,000 to purchase wood and other materials for his business.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,357.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,225 helped Iderbaatar to purchase wood and other materials for his business.
94% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 26, 2012
Listed
Aug 23, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013