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Jargalsaihan

Update on Jargalsaihan

Jargalsaihan is 48 years old and lives with his wife and his two daughters in a ger, a Mongolian yurt, in the Uvurhangai province of Mongolia. His wife helps out with his job. His older daughter lives separately. One of his other two children is a college student.

He started his own wooden furniture production business in 2008. He sometimes engraves his work.

He is requesting a 2,000,000 MNT loan to purchase a machine for his wooden furniture service. Jargalsaihan is very experienced in wooden furniture production, and his customers appreciate him as a reliable and punctual man.

Previous Loan Details

Jargalsaihan is 47 years old and lives with his wife and three kids in Ger. They live in a Mongolian yurt in Uvurhangai, a province of Mongolia. His wife helps her out with his job, his elder two kids live individually, and the younger one goes to school. He started his furniture making business ... More from Jargalsaihan'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
  • 1,362.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,475 helped Jargalsaihan to purchase a machine for his wooden furniture service.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 15, 2012
Listed
Oct 1, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014
This photo was used before for a previous loan for Jargalsaihan. It was first posted on Kiva on Oct, 2011. Learn More