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Batzul
Batzul is 31 years old lives with his wife and two sons in the Hovd province of Mongolia. His sons, Baasanjargal and Bayanjargal, are 3 and 5 years old and they go to a local kindergarten. Since 2008, Batzul has been running a taxi service in town. His wife has worked as saleswoman in a local market for last three years and has obtained a lot of experience. She is now starting her own retail clothing business in a local market.

Batzul is requesting a 1,800,000 MNT loan to invest in his wife's new clothing business. He and his wife are both hardworking, responsible and well-behaved people.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,275 helped Batzul to invest in his wife's new clothing business.
95% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 4, 2013
Listed
Jun 3, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013