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Batdorj
Mr. Batdorj is 29 years old, and he lives with his wife and two children, in a small house in Tosontsengel soum, in Zavhan province, Mongolia. His wife Dolgormaa, age 26, works at home, providing tailoring services. His daughter Oyunjargal, age 4, and son Sanjsuren, age 2, go to local kindergarten.

Borrower has been working with his wife since 2008. Since then, they have had two babies and their family expenses have doubled. Soon they will be increasing even more. Therefore, Batdorj is now planning to start a transportation service business. He is requesting a loan of 3,000,000 MNT to purchase a truck with which to start providing transportation services. He is a hard-working, well-experienced and honest 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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,399,550
    Funds lent in using Kiva
  • 1,396.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,150 helped Batdorj to purchase a truck, with which to start up his new transportation services business.
92% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 18, 2013
Listed
Mar 21, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013