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Uuganbaatar
Uuganbaatar is 39 years old. He lives with his wife and two children in a ger (a traditional yurt) in the Hentii province of Mongolia. His wife, Undraga, age 34, works in the local kindergarten as a nanny. His older son, Davaa, goes to the local school and his younger son, Angarag, goes to the local kindergarten.

Uuganbaatar has been providing transportation service to local customers since 1998. He transports hay and other forage during the warm season and charcoal and firewood during the cold season.

His car has been broken for the last few months and his business has stopped because of that. He is now requesting 2,800,000 MNT to purchase a second-hand truck to enable him to provide his transportation service again in town. He is a hardworking, reliable and honest man.

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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,025 helped Uuganbaatar to purchase a used truck to provide his transportation service again.
90% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 18, 2012
Listed
Jan 17, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014