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Bat-Ulzii is 37 years old and lives with his wife and son in a house in Ulaanbaatar, the capital city of Mongolia. His son attends a secondary school, and his wife helps her husband with his business. Bat-Ulzii operates a used furniture trading business where he refurbishes old furnishings and sells them. He started his business in 2000, and, today, his working capital exceeds 2,000,000 MNT (approximately 1400 USD). Korean imports of used furniture are increasing daily, and Bat-Ulziiā€™s number of customers is increasing as well. Bat-Ulzii would like to keep growing his business, eventually owning his own furniture factory one day. He is requesting a 2,000,000 MNT loan in order to purchase more used furniture that he can refurbish and sell.

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
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,437,650
    Funds lent in using Kiva
  • 1,424.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Bat-Ulzii to purchase more used furniture to refurbish and sell.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 9, 2009
Sep 30, 2009
Currency Exchange Loss:
Jun 15, 2010