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Suhbat

Update on Suhbat

Mr.Suhbat is 61 years old and lives with his son in the Arkhangai province of Mongolia. His son, Tumenbayar, is 22 years old and helps him to run his business of manufacturing energy-efficient, economical stoves at home.

Suhbat has been running his metal workshop since 1992. He is well-experienced in his occupation and well-known by his clients for his work. He is planning to build large amount of energy-efficient, economical stoves for Ger (Mongolian traditional Yurt) district citizens, to reduce air pollution and consumption of coal, during winter.

Suhbat is now applying for loan of MNT 1,000,000 to purchase materials to build a large amount of energy-efficient, economical stoves. He is a hard-working, thoughtful, and diligent man.

Previous Loan Details

Suhbat is a 60-year-old man who lives with his son in Arhangai province in Central Mongolia. He has been producing ovens, furnaces and some metal equipment since 1992. He has been increasing his income and at the same time improving the household. Since his wife died, he received all the… More from Suhbat'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
  • 15
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,419.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Suhbat to purchase materials to build a large amount of energy-efficient, economical stoves.
89% repaid
Repayment Term
24 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 27, 2013
Listed
May 28, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 18, 2014
This photo was used before for a previous loan for Suhbat. It was first posted on Kiva on Apr, 2012. Learn More