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Bayanbat
Since 2007, Bayanbat T. has been running a small cafe together with his spouse, Chimgee, in a rental place near the local market. He has two employees. Bayanbat is a 22-year-old married father of one. His family lives in a ger (nomadic tent housing) district in Arhangay, one of Mongolia's central provinces.


With his profit, he maintained and expanded his cafe last year. This couple hopes to have their own business place as soon as their business is quite successful. During the last three years, Bayanbat's working capital has increased from 500,000 tugrugs to 1,200,000 tugrugs ($1 US = ~1450 MNT). He requests a loan to purchase flour, rice, whole animal meat and vegetables for his business. He says, "My wish is to keep my only son healthy and help him become a good person."


Thanks, Bayanbat - an open, cheerful and hardworking person!

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,452.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,075 helped Bayanbat to purchase flour, rice, whole animal meat and vegetables for a cafe.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 6, 2009
Listed
Jul 25, 2009
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2010