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Taivanbaatar
Mr. Taivanbaatar is 22 years old and lives with his wife and daughter in a small house in the Govi-Altai province of Mongolia. His wife Ariunbileg has graduated from nursing school and is now staying home to take care of her newborn baby daughter Davaahishig, 8 months old. Taivanbaatar has been helping his father and brother since he was young to craft wooden items. He is a well-experienced and hardworking man who is now requesting 1,400,000 MNT to purchase inventory to start his own business of crafting wooden musical instruments in his spare room at home.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped Taivanbaatar to purchase inventory to craft wooden musical instruments.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 28, 2013
Listed
Mar 2, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 9, 2013