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Bayarmagnai
Bayarmagnai N. lives with her husband and two teenage children in the Bayanzurh district of Ulaanbaatar, the capital city of Mongolia. Her children are both high school students. Her husband, Dorjderem, has a small retail business butchering animals to prepare their meat for selling.


Bayarmagnai runs a small retail business in second-hand clothing. Since 2003, she has been selling second-hand clothes at the Narantuul market, the largest outdoor market in Ulaanbaatar. She purchases the clothes in large boxes from the wholesale market in Ulaanbaatar and sells individually-priced clothes at the stall that she rents at the Narantuul market. From the beginning, she has gained significant experience in retail.


In the future, she intends to expand her business by adding new clothes imported from Beijing, China. She requests a loan to purchase more second-hand clothes for her 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
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,415.0
    Mongolia Tugriks (MNT) = $1 USD