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Bauerjan
Bauerjan is 27 years old lives with his wife and daughter in a house in Bayan-Ulgii province of Mongolia. His wife Omirbek is currently staying home taking care of their baby daughter Ahbot, age 1. This borrower purchased a large truck to start his transportation business last year. Coal and firewood sales and now demand on coal and firewood ave decreased and now he is planning to purchase a large amount of wooden materials from another province. He is now requesting 3,500,000MNT to purchase a large amount of wooden materials to sell to local customers. He is hardworking and well-known in town.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,525 helped Bauerjan to purchase a large amount of wooden materials to sell to local customers.
93% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 17, 2013
Listed
Apr 18, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013