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Battulga

Update on Battulga

Mr. Battulga lives in Arkhangai province of Mongolia with his wife and a daughter in a 'ger', a traditional nomadic yurt. His wife Gantuya and daughter Nyamjargal helps him to run their family business of recycling materials and animal pelt retail business in local market. They have been running the business for years and have lot of experience and built their retail channel.

He is now requesting a loan of 800,000 MNT to purchase a large amount of animal pelts and other products in bulk and sell to local manufacturers. Battulga's are a happy and hardworking family.

Previous Loan Details

Battulga is 54 years old and lives with his wife and daughter in a ger (yurt) in Arhangai Province in Mongolia. He has worked for many years. In 2009 he started trading in animal parts such as skin, hooves and horns at the local market. His business's profit margin is 20 percent, and his cash tur... More from Battulga's previous loan »

Additional Information

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,625.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $500 helped Battulga to purchase a large amount of animal pelts and other products in bulk.
98% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 8, 2013
Listed
Oct 15, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014
This photo was used before for a previous loan for Battulga. It was first posted on Kiva on Sep, 2012. Learn More