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Batbaatar
Mr. Batbaatar, 59 years old, lives with his daughter in a little house in Uvurhangai province, Mongolia. His daughter Batbileg, 19 years old, is a college student in Ulaanbaatar. Batbaatar operated an organic milk and dairy products retail business from 2003 to 2010. His business was sustainable and had many regular customers and suppliers. Until 2012, he worked for a local company and, in May 2012, he started to operate a clothing sales business. Since Batbaatar does not have a stall to sell his products, he uses his car. He needs 2,000,000 MNT to purchase more goods to improve his new business. Batbaatar is a hardworking and hilarious man who says, ''My daughter is a college student. So I have to prepare for her tuition.''

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

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,362.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Batbaatar to purchase more clothing to improve his new business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 8, 2012
Listed
Aug 27, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2013