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Batmunh

Update on Batmunh

Mr. Batmunh is a 31-year-old borrower from Zavhan province, Mongolia. His wife helps her husband by spreading the message about his business in the area, using her advantage as local school teacher to help increase their client pool.

He is using his small truck to transport the inventory from the countryside and selling to domestic manufacturers in the capital city. He is now requesting a loan of 1,400,000 MNT to purchase a large quantity of animal pelts and other inventory from herders in the countryside.

Previous Loan Details

Mr.Batmunh is 31 years old. He lives with his wife and son in a small house in Zavhan province, Mongolia. His wife, Altantsetseg, is a teacher at a local school. His son is five years old and attends the local kindergarten. Since 2009, Batmunh has been running a business, selling animal pe... More from Batmunh's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,779.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $800 helped Batmunh to purchase a large quantity of animal pelts and other inventory from herders in the countryside.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 18, 2014
Listed
May 2, 2014
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014
This photo was used before for a previous loan for Batmunh. It was first posted on Kiva on Dec, 2013. Learn More