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Batnasan is 26 years old and lives with his mother in his own ger in Uvurhangai province in Mongolia. He has been running a business repairing mobile phones since 2009. He manages his business well and makes the repairs from a well-known mobile phone market, which is the only one market in town. He already has regular customers and now he plans to extend his business by getting a new table, seats and other equipment for the counter. He is a diligent man who says that "I would like to extend my business activity when I am young before I get married. By getting this loan, the customers would be satisfied with the service and the income would rise." The total amount he is requesting is 450,000 MNT to buy phone equipment and other implements for his work place.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,355.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $350 helped Batnasan buy phone equipment and improve his shop.
98% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 25, 2012
Feb 7, 2012
Currency Exchange Loss:
Sep 17, 2013