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Bathurel
Mr. Bathurel is 42 years old and lives with his wife and three children in a ger (Mongolian housing tent) in the Uvs province of Mongolia. His wife, Oyunchimeg, produces shoes at home by customer order and also takes care of their daughter, Baigalmaa, who is the age of 5 and also goes to a local kindergarten. His sons Bathurel and Bayandalai, age of 13 and 6, go to a local school.

The borrower has been manufacturing wooden furniture by customer order since 2008. Wooden furniture manufacture is seasonal and not very fulfilling of their family expenses, so he is planning to start a business of meat retail in local market. He already found a rental counter and now needs an additional 4'000'000 MNT (Mongolian tugriks) to purchase a large amount of livestock to produce meat for his newly starting butcher shop. He is a hardworking, honest 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

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,366,300
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,875 helped Bathurel to purchase a large amount of livestock to produce meat for his newly starting butcher shop.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 15, 2012
Listed
Dec 15, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013