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Ochirbat

Update on Ochirbat

Mr. Ochirbat is 48 years old and lives with his wife and two sons in a house in Sansar district of Ulaanbaatar, Mongolia. His wife, Narantuya, age 47, runs their family business of traditional boot manufacturing together with her husband. His son, Lhagvadorj, age 21, works for a local private company and Ochirdorj, age 19, is a freshman at an engineering university. The borrower has been running his traditional boot manufacturing business at home since 1997. He has already built close relationships with customers and suppliers. He is now requesting 1,000,000 tugriks to purchase leather inventory before the lunar new year when the price of inventory falls to the minimum. He is a hardworking, responsible and trustful man.

Previous Loan Details

Ochirbat is a man who lives with his wife and two sons in Ulaanbaatar city, the capital of Mongolia. His wife is unemployed. His son is a college student. He started making traditional boots in 1997. Since that time, the quality of his products has improved and the number of customers has… More from Ochirbat's previous loan »

Additional Information

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,382.4
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Ochirbat to purchase leather inventory to manufacture traditional boots before the lunar new year.
94% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 24, 2013
Listed
Feb 24, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014
This photo was used before for a previous loan for Ochirbat. It was first posted on Kiva on Mar, 2012. Learn More