Check out other loans that are currently fundraising!
Batnairamdal
Batnairamdal is 23 years old and lives with his new wife and newborn baby daughter in a ger in the Govi-Altai province of Mongolia. His wife Gegeentsetseg has just had their baby daughter Tsoglogmaa and stays home taking care of the baby.

Batnairamdal has been running a taxi service business since 2010. His income has been barely meeting the family's expenses. Since they have a newborn baby in the family and his wife is not working, he decided to increase his income in order to meet at least the break-even point. Batnairamdal is now requesting 2,000,000 MNT to purchase billiard tables to start a billiards business in the area to increase his income. Batnairamdal is hardworking, responsible, and a kind 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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Batnairamdal to purchase billiard tables to start a billiards business in the area to increase his income.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2012
Listed
Dec 17, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014