Update on BatsuuriBatsuuri is 30 years old and lives with his wife and his daughter in old small house in the Dornod province of Mongolia. His wife's name is Solongo, and she works for an NGO. His daughter's name is Bayanjargal, and she goes to the secondary school.
In 2009, he started a transportation service business that runs between Dornod province and Ulaanbaatar, the capital city of Mongolia.
Beginning 2011, he started to operate a recycled materials trade business. Today. Batsuuri is very experienced with the recycled materials trade business, and his customers appreciate him as a diligent and friendly man. As time passes his business expanding, so he needs 2,500,000 MNT to enlarge his truck to carry recycled materials to the trade center. Batsuuri expects a major improvement in his family's living situation.
Previous Loan DetailsBatsuuri is 29 years old and lives with his wife and son in a ger, a Mongolian yurt, in Dornod province, Mongolia. His son is six years old and attends kindergarten and his wife works as an officer at NGO. Since 2009, Batsuuri has managed a transportation service business that runs between Dornod... More from Batsuuri's previous loan »
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 XacBankThis 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.
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- Repayment Term
- 26 months (Additional Information)
- Repayment Schedule
- Aug 10, 2012
- Aug 29, 2012
- Currency Exchange Loss:
- Sep 17, 2014
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.