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Ashigbayar is 25 years old and lives with his parents in a ger (a Mongolian yurt) in the Umnugobi province of Mongolia. He manages a hair salon in his town, which he started in 2007, with the help of his younger brother. He is a hardworking man who says, "I am planning to expand my business and to buy new equipment for it." He is requesting a 900,000 MNT loan to purchase beauty products for his hair salon.

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
  • 7
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,252.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Ashigbayar to purchase beauty products for his hair salon.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
May 23, 2011
Jun 18, 2011
Currency Exchange Loss:
Oct 19, 2011