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Bathuu
Mr.Bathuu is 41 years old and lives with his wife and three children in Ger in Uvs province of Mongolia. His wife Baigalmaa is currently unemployed and stays home. His sons Monhtulga, age 18; Anujin, age 14; and Hulan, age 5, go to local schools. Borrower has been running a welding service business at home for years and he is well-known in town. He is now requesting 4,500,000 MNT to purchase spare parts to start his auto repair business. He is a hardworking, well-experienced, and diligent 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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,250 helped Bathuu to purchase spare parts to start his auto repair business.
86% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 18, 2013
Listed
Mar 22, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 24, 2014