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Bayarsayhan S. lives with his wife and two teenage children in Ovorhangai province, one of Mongolia's central provinces. His two children are both high school students. Bayarsayhan has a small retail business selling women's and men's clothing. He sells various women's and men's clothes imported from China at the stall that he rents in the local market. He usually purchases clothes for his business from Ereen, China, a border town where many cheap Chinese products are imported to Mongolia.

Depending on the monthly sale amount, he travels to Ereen, China, once or twice a month to bring back clothes for his business. While he is away in Ereen, his wife helps in his business as a saleswoman at his stall in the market. In the future, he hopes to open a large shop for various apparel.

Bayarsayhan also says that he hopes to start saving some money from his business's profit for his children's future education. His dream is to see his two children receive a good education and pursue their dreams. He is requesting a loan to purchase more clothes from Ereen, China.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,418.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Bayarsayhan to buy men's and women's apparel for resale.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 15, 2009
Jun 24, 2009
Currency Exchange Loss:
Jan 15, 2011