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Baldorj is 31 years old and lives with his wife and son in a Ger (traditional Mongolian felt tent) in the Uvs province of Mongolia. His wife, Monhsoyol, is currently attending specialized medical training, and his 5-year-old son, Hos-Erdene, goes to the local kindergarten. Baldorj has been working in various fields and worked as a driver of big trucks for the last several years.

He is a well-experienced and hardworking man who is now planning to start his own business, being a transportation service provider with his own truck. He needs a loan of 5,000,000 MNT to purchase bulk cement from the capital city (Ulaanbaatar) to sell to local customers. He said, "I want my business to be successful and to build my own house."

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
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD
A loan of $3,500 helped Baldorj to purchase bulk cement from the capital city (Ulaanbaatar) to sell to local customers.
Repayment Term
25 months (Additional Information)
Repayment Schedule
May 4, 2013
Jun 3, 2013
Currency Exchange Loss:
Jul 3, 2013