Check out other loans that are currently fundraising!
Enhtor
Enhtor is 38 years old and lives with his wife and three children in Ger, Uvurhangai Province, Mongolia. He started a wooden furniture manufacturing business in 2000. Mainly, he makes wooden furniture for Ger. Enhtor is well experienced in the industry.
His son got sick in 2010 and they moved to the capital city for two years to get closer to the hospital. Enhtor stopped the business during those two years and now he wants to open his business back up in Uvurhangai Province and he is asking for a loan of 2,500,000 MNT (Mongolian Tugrik) to purchase inventory and raw materials for his business. He is a hard-working and diligent person, who says, "It has been a tough two years since we moved to Ulaanbaatar city and my son was sick. Now I and my wife will work hard to improve our life."

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
  • 1,382.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,825 helped Enhtor to purchase inventory and raw materials.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 11, 2012
Listed
Oct 27, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014