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Mr.Batsuren is 45 years old and lives with his wife and 5 children in a ger in the Baganuur district of Ulaanbaatar, Mongolia. His wife Ariunaa, is 45 years old and stays home taking care of their children. His daughters Ariuntuya, 16 years old, Ariun-Erdene 8 years old and sons Husel-Erdene, 11 years old and Huchit-Erdene, 7 years old go to the local school and their youngest son Orgil-Erdene, who is 2 stays home with his mother. Batsuren has been working as a furniture carpenter for years and has gained a lot of experience in the local furniture manufacturing company. He is now planning to start his own furniture manufacturing business on their plot of land. He is now requesting a 1'000'000MNT loan to purchase inventory for his new furniture manufacturing business. He is hardworking and a diligent man.

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.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Batsuren to purchase inventory for his new furniture manufacturing business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Dec 20, 2012
Jan 18, 2013
Currency Exchange Loss:
Dec 17, 2014