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Erdenebayar
Mr. Erdenebayar is 22-years-old and lives with his wife and son in a ger in Uvurhangai province of Mongolia. His wife, Saihanchimeg aged 25 years, works as a saleswoman in the local market. His son, Dolgoon aged 2 years, goes to kindergarten. He has been working at a printing company since he graduated from secondary school. He has gained experience from his printing job and now he is starting his own business of computers, editing, and printing services in the local market where people need this service very often. He is requesting 1,500,000 MNT to purchase a color printer and various types of paper to run his business smoothly from the beginning. He is sharp, friendly, and 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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Erdenebayar to purchase a color printer and various types of paper to run his business smoothly from the beginning.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 23, 2012
Listed
Nov 22, 2012
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013