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Hasbaatar
Hasbaatar is 44 years old. He lives with his wife and two sons in a ger in the Uvs Province of Mongolia. His wife Otgonjargal works at a local secondary school as a guard. His two sons, Enhbat and Enhtuvshin, ages 21 and 17, are both university students. He has been working in the business of recyclable waste purchasing and sales since 2008. He has obtained a lot of experience in recyclable waste purchasing and sales, and now he is planning to open his own business. He is requesting 1,600,000 MNT to purchase recyclable waste from local retailers, which he will then sell to recycle manufacturing companies at a higher price. He is a hardworking and diligent man.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • $15,310,900
    Funds lent in using Kiva
  • 1,392.7
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,150 helped Hasbaatar to purchase recyclable waste from local retailers to resell to recycle manufacturing companies.
94% repaid
Repayment Term
22 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 24, 2012
Listed
Nov 23, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013