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Baatar-Ochir is 39 years old. He lives with his wife and 3 children in a small house in the Hentii province of Mongolia. His wife Nandintsetseg, 37, works at a local hospital as an assistant doctor. His older son Sodbileg, 11, goes to a local school and his younger son, Gunbileg, 5, goes to a local kindergarten.

Baatar-Ochir has been driving a big truck since 1995 for a private mining company. He has gained a lot of experience over the years and now he is planning to start a business providing transportation services for mining projects using his own truck. He needs 5,500,000 MNT to purchase new wheels in order to provide his transportation services without problems. He is a hardworking, well-behaved and responsible 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD