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Bat-Erdene
Mr. Bat-Erdene is 34 years old. He lives with his wife and two children in a house in Arhangai province of Mongolia. His wife Zolzaya, age 29, studies at university. His son Javhaamandah, age 7, goes to a local school and daughter Enhmandah goes to a local kindergarten.

Bat-Erdene has been working as a craftsman at a local company since 1996. He is now starting his own business since he has already built a close relationship with his customers and suppliers. He is now requesting 1,000,000 MNT to purchase bulk silver to craft silver jewelry to sell to his customers. He is a hardworking, fast and responsible 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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Bat-Erdene to purchase bulk silver to craft silver jewelry to sell to his customers.
95% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 18, 2013
Listed
Mar 22, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013