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Suhbaatar
Mr. Suhbaatar, 40 years old, lives with his wife and 2 children in a ger (a traditional Mongolian yurt) in Bulgan province, Mongolia. His wife, Bolormaa, works at a local company, his son Gan-Erdene, age 10, goes to a local primary school and his daughter Nandin-Erdene, age 5, goes to a local kindergarten.

Suhbaatar has been working as a carpenter since 2005. He also learned how to manufacture traditional boots at a specialty training school and now he is starting his own cobbler service business at home. Suhbaatar is requesting a loan of 3,000,000 MNT to purchase starting inventory for his new cobbler business. He is a hardworking and positive 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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,390.8
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,175 helped Suhbaatar to purchase starting inventory for his new business.
62% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 6, 2013
Listed
Feb 5, 2013
Currency Exchange Loss:
Possible