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Suhbaatar
Mr. Suhbaatar is 40 years old and lives with his wife and three children in a small house in the Orhon Province of Mongolia. His wife Enhchimeg, age 36, works at a local road company. His daughter, Oyuntulhuur, age 16, and sons Gantulga, age 15, and Hatanbaatar, age 12, study at local schools.

The borrower has been working at a state-owned transportation company for more than 10 years now. His daughter is enrolling in university next year, and their family expenses will be getting higher soon. He is now starting his own transportation service business in town, and needs 4,000,000 MNT to purchase an eco-friendly, economical vehicle to run his transportation service business in order to save for his daughter's further study

He is a hard-working and diligent man.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 1,376.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,925 helped Suhbaatar to purchase an eco-friendly, economical vehicle to run his transportation service business in town in order to save for his daughter's further study.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 26, 2013
Listed
Feb 25, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 23, 2013