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Erdenebaatar
Erdenebaatar is 38 years old, married, and has two children, who attend school. He lives in a small house in Huvsgul province, Mongolia. His wife used to run a small clothing store and now works at a local kindergarten as an assistant teacher.

Erdenebaatar is a caring and thoughtful father and husband who works very hard for his family and sons' future. Huvsgul province has many tourist attraction landscapes and resorts and Erdenebaatar decided to purchase a second-hand vehicle to start providing tour guide/driver services. He has been driving public transportation inter provinces for years and has lot of experience and skills. He is requesting loan for 2,300,000 MNT, which he will use to purchase a mini-van to start his tourist guide/driver business.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,672.2
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,400 helped Erdenebaatar to purchase a mini-van to start his tourist guide/driver business.
98% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 10, 2014
Listed
Jan 16, 2014
Currency Exchange Loss:
Possible
Ended:
Jan 7, 2015