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Baatardalai
Baatardalai is a 52-year-old widower who lives with his 2 children in a ger in Har-Horin Soum of Uvurhangai province, Mongolia. His daughter (Nomin-Erdene, age 28) works at a local school as a teacher, and his son (Suhbold, age 25) is a university student.

Baatardalai has been running an auto repair business on his plot of land since 2001. He has stopped his business because his welding machine has broken and he is not able to provide his service to customers. He needs to repair or replace his equipment to restart his business. He is now requesting 1,300,000MNT to purchase better machinery to re-provide his business to his customers.

Baatardalai is hardworking, diligent and positive 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

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,386.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $950 helped Baatardalai buy machinery for his auto repair business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 9, 2013
Listed
Feb 8, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 13, 2013