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Batdorj
Mr Batdorj is 33 years old and lives with his wife in a Ger in Uvs province, Mongolia. His wife, Delgermaa, is 32 years old and unemployed. He has been working in several industries since 2001. He has been driving for years now and he is an experienced driver who is now starting his own business, running a taxi service with his own car.

However, his car needs some maintenance in order for it to be able to fun as a taxi smoothly and without any temporary stopping. The Mongolian winter is very cold and roads get slippery and because of that, car accidents and other problems arise. He is a hardworking and honest person and he is asking for 1,000,000 MNT to purchase new tires and cover other maintenance necessary for his car to be able to carry out the new taxi service business.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $725 helped Batdorj to purchase new tires and pay for maintenance of his car so he can provide his taxi service.
74% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Oct 12, 2012
Listed
Nov 10, 2012
Currency Exchange Loss:
Possible