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Huatbek is 37 years old and lives with his children and wife in a ger, a Mongolian yurt, in Bayan-Ulgii province of Mongolia. His children are both high school students. His wife helps him to manage the family business.

He started his business few years ago by selling flour and rice at the local market. From 2010, he started to sell foods and other items. Currently, he is also managing another business, by selling fermented mare's milk. He has livestock in the countryside.

He is a diligent and optimistic man who says "I want to expand my business and increase my turnover." He is requesting a 2,000,000 MNT loan to purchase hay for his livestock. He planned to buy two truck loads of hay at the cost of 600,000 MNT and 20 bags of wheat at the cost of 1,000,000 MNT and finish the construction of a fence.

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
  • 1,255.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Huatbek to purchase hay and wheat.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 20, 2011
Sep 29, 2011
Currency Exchange Loss:
Jul 17, 2012