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Gantulga
Mr. Gantulga is 26 years old and lives with his wife and two children in a ger, in Suhbaatar province, Mongolia. His wife, Dulamsuren, stays home and takes care of their daughters, Maralgoo and Gandulam, ages 4 and 2 years.

Gantulga has been working at a butcher place for more than four years. He has obtained a lot of experience in the butcher and meat retail business. He and his wife are planning to start up a business, retailing meat in the local market. Dulamsuren will be working as the salesperson, and Gantulga will be supplying meat for cheaper wholesale prices, from the butcher place where he works.

Now Gantulga is requesting 1,100,000 MNT to purchase two big cattle, with which they will start their business of retailing meat in the local market. Gantulga and his wife are diligent, responsible people.

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
  • $15,310,900
    Funds lent in using Kiva
  • 1,399.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $800 helped Gantulga to purchase two big cattle to use in starting their new business, selling meat in a local market.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 13, 2012
Listed
Dec 13, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014