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Erdenesuren
Mr.Erdenesuren is 56 years old, and lives with his wife in a ger in the Uvs province of Mongolia. His wife, Surenjav, is 55 and works at the state library as a librarian.

He has helped his son run his business (a retail toy store) in a rental counter at the local market. He has gained much experience in dealing with customers and suppliers over the years.

He is now planning to start his own business (curtain retailing) in the local market. He is requesting 2,000,000MNT to purchase a starting inventory for his business.

He is a hardworking, responsible, and modest 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

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Erdenesuren to purchase a starting inventory for his curtain retail business.
88% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 9, 2013
Listed
Feb 9, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 22, 2014