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Erdenebat
Erdenebat P. lives with his wife and two teenage daughters in Arhanghay province, one of Mongolia's central provinces. His elder daughter is a student in the National Medical School in Ulaanbaatar, the capital city of Mongolia, and his younger daughter is a local high school student.

Erdenebat and his wife have been running a small business retailing meat since 2005. Erdenebat visits herders in the countryside and purchases livestock at a discount whenever he can. Once he brings the livestock home, he slaughters and butchers the meat into small pieces for individual sale. When it has been prepared for market, his wife sells the meat in the local food retail market.

In the future, he would like to open a large butcher shop. He hopes to be able to afford his daughters' college tuition. He requests a loan to purchase more livestock from herders in the countryside.

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.

About Mongolia

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,480.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Erdenebat to purchase more livestock from herders.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 1, 2009
Listed
Apr 3, 2009
Currency Exchange Loss:
Covered
Ended:
Sep 15, 2009