Update on BatorgilBatorgil is 46 years old and lives with his wife and two children in a ger, a traditional nomadic yurt, in Bulgan province of Mongolia. His wife Ganchimeg works at a local hospital. His daughter Lhagvazul is a junior in the university and son Boldsaihan studies at a local secondary school. Batorgil has had a business providing clean water delivery for more than a decade and has a lot of regular clients. He is a well-experienced, welcoming and hardworking man who works for his family and to get his children well educated in the future. He is now requesting a loan of 2,500,000 MNT to purchase a large amount of clean mineral water to sell and deliver to his clients.
Previous Loan DetailsBat-orgil is 45 years old and lives with his wife and 2 children in a ger in Bulgan province. His wife is a nurse in the medical center of Bulgan, his daughter is a college student, and his son is a secondary school student. Bat-orgil started his water delivery service by horse business in 2... More from Batorgil's previous loan »
About XacBankThis 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.
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This loan has been fully funded!