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Erdenebaatar is 41 years old and lives with his wife and three kids in a ger (Mongolian yurt) in Bayanhongor Province, Mongolia. His wife helps with his business, and his kids are school students. Erdenebaatar operates a flour and rice trading business. He started his business in 2004 by renting a container in a market. He also works in a gas station. Now that the business is stable enough, he arranged to rent another container, however the supply is not enough to run a business. He is a strong and diligent man who says, "Now that my children are growing, I have to do everything I can to be able to pay for their education." He is requesting 2,000,000 MNT to buy flour at wholesale prices.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,575 helped Erdenebaatar to buy flour at wholesale prices.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Nov 10, 2011
Nov 21, 2011
Currency Exchange Loss:
Jun 20, 2012