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Baasanjav

Update on Baasanjav

Mr. Baasanjav is 57 years old and lives with his wife and daughter in Hovd province of Mongolia. His wife Givaahuu has been working at a local market. His daughter Monhmart is a freshman at university. He has been operating a spare parts retail business since 2002 at a local market. He already has gained lot of experience and regular customers over the years. His older children got married and moved out of their parents' house.

Mr. Baasanjav is a hardworking, diligent man who says, "My only goal is to educate my youngest daughter and let her marry a good guy." He is now requesting 4,000,000 MNT to pay his daughter's tuition and dormitory expenses in the capital city.

Previous Loan Details

Baasanjav is 56 years old and lives with his four children and wife in a ger (a traditional Mongolian housing tent) in the Hovd province of Mongolia. His four children are high school students and his wife is currently unemployed. Baasanjav started to trade spare car parts at the local market in ... More from Baasanjav's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,875 helped Baasanjav to pay his daughter's tuition and dormitory expenses.
92% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 19, 2012
Listed
Nov 17, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014
This photo was used before for a previous loan for Baasanjav. It was first posted on Kiva on Aug, 2011. Learn More