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Ganbaatar
Mr. Ganbaatar is 44 years old and lives with his wife and 2 kids in their small house in Dornogovi province, Mongolia. His wife is currently unemployed and stays home. His older daughter has just gotten married and lives in Ulaanbaatar city. His younger 2 children are local secondary school students.

Ganbaatar has been running taxi services during his off-duty hours since 2011. He has been working at a local government unit for years and quit because of his medical condition. He is now requesting a loan of 4,000,000 MNT to purchase spare parts and other necessary replacement items for his car to start his taxi service, and also to buy some furniture for his daughter's new home in Ulaanbaatar.

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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,705.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,350 helped Ganbaatar to purchase spare parts and other items for his car, and to buy some furniture for his daughter's new home.
61% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 28, 2013
Listed
Dec 13, 2013
Currency Exchange Loss:
Possible