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Naranbaatar
Naranbaatar is 26 years old and lives with his parents and 2 siblings in their small house in Zavhan province, Mongolia. He has a girlfriend and is planning on moving in together next summer. He is now preparing their new home for them.

Naranbaatar is a very hardworking, clever and enthusiastic young man who has started working since he was a university student. He is now running a butcher shop business and buys livestock or meat products from herders in the countryside and sells to Ulaanbaatar city residents. From his business profit he has built small house to eventually live in with his girlfriend, and now needs to purchase and place furniture.

He is requesting loan of 4,000,000 MNT to purchase a large amount of meat products from herders and sell to Ulaanbaatar city residents for Lunar New year celebration.

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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,694.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,375 helped Naranbaatar to purchase meat products to sell.
97% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 25, 2013
Listed
Jan 24, 2014
Currency Exchange Loss:
Possible
Ended:
Feb 3, 2015