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Bayanjargal, 63, is married and lives with his wife in a ger, Mongolian yurt, in Dornod province of Mongolia. All his children are grown up and live separately. He manages a vegetable trading business at a local market. He plants a variety of vegetables, such as tomato, cucumber, carrots, cabbage, and potatoes, etc. He is a polite man who is planning to continue his business in the future.

He is requesting a 2,500,000 MNT loan to purchase a new truck in order to transport his vegetables.

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,215.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,075 helped Bayanjargal to purchase a new truck.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
May 13, 2011
May 18, 2011
Currency Exchange Loss:
Apr 17, 2013