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Mr. Erdenebaatar is 29 years old and lives with his wife and four children in a 'ger' in Hentii province of Mongolia. His wife Bishuubazar, age 22, has just given birth to their youngest son Chngisbayar and stays home taking care of their four little ones: Yundenbazar, age 5, Chimedlham, age 3 and Yunden, age 2.

The borrower has been working as a woodman for years and is now starting his own business as a carpentry service provider. He needs 1,000,000 MNt to purchase equipment and tools to start his carpentry business. He is hardworking, responsible and a well-behaved 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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Erdenebaatar to purchase equipment and tools to start his carpentry business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Feb 17, 2013
Mar 19, 2013
Currency Exchange Loss:
Feb 17, 2014