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Bat-Erdene

Update on Bat-Erdene

Mr. Bat-Erdene is 26 years old and lives with his wife and son in a ger in the Uvs province of Mongolia. His wife, Oyuntsetseg, works as a saleswoman in the local market. His son, Temuulen, goes to the local kindergarten.

This borrower has been running a taxi service business in town since 2012. He has gained a lot of experience over time, however, his car has been consuming a lot of gas and he needs a replacement. He is now requesting a loan of 5,000,000 MNT to purchase an eco-friendly vehicle to provide his taxi service business with lower costs in order to increase his profits. He is hardworking and diligent.

Previous Loan Details

Bat-Erdene, aged 25, lives with his wife and son in a Mongolian yurt in Uvs province, Mongolia. His wife's name is Oyuntsetseg and she is 25 years old. His son, Temuulen, attends kindergarten and is two years old. Bat-erdene started a taxi service business in 2012. His business' net profit is 250... More from Bat-Erdene's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,600 helped Bat-Erdene to purchase an eco-friendly vehicle to lower costs for his taxi service business.
87% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 26, 2013
Listed
Mar 22, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 24, 2014
This photo was used before for a previous loan for Bat-Erdene. It was first posted on Kiva on Aug, 2012. Learn More