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Badam-Ochir
Badam-Ochir M. is 19-year-old and is newly married. He lives with his new wife and 1-year-old son in Ovorhangai province, one of Mongolia's central provinces. He has a small business in ice cream-making. He has been running a small ice cream shop since 2008. He finished a tour with the national army and got married to his wife last year. Upon his marriage, he started his first private business--ice cream making.


From the start, his business has been doing well and the sales volume has been climbing from the beginning. This month, his business capital has increased to 850,000 Mongolian (about $590 US). He aims to increase the variety of ice cream products that he offers now. He would also like to add more flavors in his ice cream portfolio. Badam-Ochir says that he would like to expand his ice cream-making capacity as the demand for ice cream surges during this hot summer.
He requests a loan to purchase additional freezer and ice cream ingredients 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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,341,800
    Funds lent in using Kiva
  • 1,439.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Badam-Ochir to purchase additional freezer and ice cream ingredients.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 14, 2009
Listed
Jul 14, 2009
Currency Exchange Loss:
Possible
Ended:
Jul 21, 2011