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Batbaatar
Batbaatar T. lives with his wife and four children, whose ages range from 13 to 23, in Arhanghay, one of Mongolia's Northern provinces. His two youngest children are local high school students. He has a small retail business selling secondhand clothing. He usually travels to Ulaanbaatar, the capital city of Mongolia and purchases imported secondhand clothes at wholesale markets. He rents a small stall in the local market in Arhangay province to sell his clothes from.


Since the start of his business in 2004, his business capital has increased from 200,000 Mongolian Tughrik (about US $142) to 1,500,000 tughrik (about US $1063). In the future, he would like to have his two high school children enter universities of their choices without any financial strains. He requests a loan to purchase more secondhand clothes from Ulaanbaatar for his business.

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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,423.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Batbaatar to buy secondhand clothes for resale.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 23, 2009
Listed
May 15, 2009
Currency Exchange Loss:
Covered
Ended:
Sep 15, 2010