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Zorigt
Zorigt is 54 years old. He lives with his wife and two children in small house in Niseh District, Ulaanbaatar, Mongolia. His wife, Enhtsetseg, 36, works part-time at a local cafeteria. His older son, Telmuun, 16, attends a local secondary school. Zorigt's younger son, Naranbaatar, 5, attends a local kindergarten.

Zorigt used to work at a tourist camp as a driver for many years. He is now planning to start a transportation service business. In the winter, he would provide transportation within the town. During the summer, he would take tourists around to see the beautiful nature in Mongolia. He needs 3,000,000 MNT to purchase a minivan to start his own transportation business. He is hardworking, positive, and a well-experienced driver.

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
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Zorigt to purchase a minivan to start his own transportation business.
93% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 28, 2012
Listed
Dec 27, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013