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Estai
Mr.Estai is 32 years old and lives with his wife and a son in small house in Bayan-Ulgii province, Mongolia. His wife Erkejan is currently unemployed and takes care of their two-year-old son Sarai at home.

Estai has been providing taxi service business in town since 2011. He used to work at local companies as an assistant worker and driver. He purchased a second-hand car and started his own taxi service business.

His car has been broken down several times recently and needs some spare parts in order to continue his taxi service with no sudden stops. He is now requesting a loan of MNT 2,000,000 to purchase spare parts, install them in his car, and continue his business and support his family.

He is a hard-working, enthusiastic, and reliable man.

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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,697.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,200 helped Estai to purchase spare parts and repair his taxi.
85% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 25, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible