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Sandagsuren
Mr. Sandagsuren is 31 years old and a carpenter who lives with his wife and two children in their ger, a traditional nomadic tent house, in Uvurhangai province, Mongolia. His wife helps him to run their business, and his children under 6 attend a local kindergarten.

Sandagsuren has been manufacturing wooden furniture since 2006 at home. He built another ger next to theirs as a workplace later on.

He manufactures wooden furniture by clients' orders. He has increased his quality over the time, and now his products are as good as the big manufacturers'. He also employs one helper and has taught him everything to groom him to open his own business later.

He started building a house for his family's use. He needs additional investment of MNT 4,700,000 to purchase insulation and construction material to finish building the house before the cold Mongolian winter comes.

He is a kind, hard-working, and responsible 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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,697.8
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,775 helped Sandagsuren to buy insulation and construction materials to finish building his house before the cold Mongolian winter comes.
99% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 14, 2013
Listed
Nov 15, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 7, 2015