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Batjargal
Batjargal is 37 years old and lives with his retired mother in a small house in Uvurhangai province, Mongolia. He is an honest and hardworking man who was trained in cell phone repair in Ulaanbaatar in March 2012.

Batjargal is requesting 3,000,000 MNT to purchase equipment and inventory for his new business providing phone repairs and selling phones. He plans to rent a phone repair stall at a shopping center where he will provide phone repairs and sell cell phones as well.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Batjargal to purchase equipment and inventory for his new business providing phone repairs and selling phones.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 18, 2012
Listed
Oct 17, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014