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Jargalsaihan, age 54, operates a clothes sales business in his town. He started this business in 2005. In addition, he runs a business trading plastic bowls and bottles. He collects used cans and bottles in bulk. He plans to obtain a large storage facility where he can load and store large quantities of cans and bottles.

He is a diligent man who is planning to expand his business in the future. He says, "Because of insufficient collateral, I am having difficulty receiving loans from banks." He is requesting a 700,000 MNT loan to purchase more bottles and to increase his working capital.

Jargalsaihan lives with his wife in a "ger," a traditional Mongolian yurt, in the Govisumber province of Mongolia. His wife is an inspector who works at a public organization. All of their children are grown and live separately.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,245.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Jargalsaihan to purchase more bottles.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jul 10, 2011
Jul 25, 2011
Currency Exchange Loss:
Jan 15, 2013