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Hurelbaatar
Mr. Hurelbaatar is 50 years old and lives with his wife and son in the Bayanhoshuu area of Ulaanbaatar city, Mongolia. His wife Adiyajav, is 40 years old and helps her husband run their family business, a grocery store. His son Sengerravdan is a sophomore student and also helps his parents. Hurelbaatar has been running various kinds of businesses for eight years.

Last year, he opened a small grocery store on their plot of land to serve customers in the neighborhood. He purchases inventory from big markets in bulk and sells in retail in his store. He rents a car to transport the goods and spends a lot of money on that. He is now requesting 4,000,000 MNT to purchase a natural gas-consuming, eco-friendly car to decrease operational expenses. He is a smart, hardworking, and kind man.

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.

About Mongolia

  • $2,175
    Average annual income
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,456.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,750 helped Hurelbaatar to purchase a natural gas consuming, eco-friendly car to decrease operational expenses.
94% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 5, 2013
Listed
Jul 8, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2013