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Byambasuren C. is a 59-year-old widow. She lives with her daughter and two granddaughters in a rented place in Arhangai, one of Mongolia's central provinces. Her grandchildren attend local elementary schools and her daughter runs a small business at the local market.

In 2008, Byambasuren started a catering business. She makes a variety of traditional meals and sells them to a local retailers. Her clients are mostly salesman and woman who have a stalls at the local market. She purchases meat, vegetables, rice, and flour for 20,000 tugrugs (equal to $ 14 USD) every day and makes around 40-50 dishes per day.

She says "I'm getting experiences pretty much. So I'm started thinking to rent a small space at the market and open my own cafe since my clients are like to have a meal i cooked for them".

With this loan, she will buy whole animals for meat for her tiny business, because meat is cheapest during the summer.

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
  • 12
    View loans »
    Mongolia Loans Fundraising
  • $15,444,050
    Funds lent in using Kiva
  • 1,452.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $150 helped Byambasuren to buy whole-animal meats.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jul 10, 2009
Jul 25, 2009
Currency Exchange Loss:
Feb 15, 2010