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Bazardari
Bazardari is 24 years old and lives with his wife and son in a yurt (ger) in Uvs province. They are a young couple. He has lately started a woodwork industry (making up the roof, the opening and frame on top of a ger and door). He is planning to do this business constantly in the future. He is requesting 2,000,000 MNT to buy raw materials for woodwork industry. He said "I had already gotten order for my new business from clients in this month." He is a hardworking person.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Bazardari to buy raw materials for woodwork industry.
94% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 5, 2012
Listed
Oct 3, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014