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Altangerel
Mr. Altangerel is 35 years-old and he lives with his wife and three children in the Uvurhangai province of Mongolia. His wife, Doljinsuren, is 31 years-old and currently studying for her masters. His older two children go to the local school and his young son Erdene-Bulgan goes to the local kindergarten. Altangerel has been growing organic vegetables in their plot of land since 2010. He has purchased a big truck to start providing transportation service business during his off-duty time. He is a hardworking and diligent man who is now requesting 1,600,000MNT in order to cover the service expense of making adjustments to his truck to start his transportation business inter-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

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,125 helped Altangerel to cover the service expense of making adjustments to his truck to start his transportation business inter-town.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 21, 2013
Listed
Jun 26, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014