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Update on Bayarmaa

Bayarmaa is a 26-year-old woman who lives with her husband and two daughters in Central Mongolia. With the help of her husband, she manages a clothes and grocery-product trading business between Ulaanbaatar city and her sum (a subdivision of a province). She sells all kinds of grocery items and a variety of clothes for all ages. Her husband helps with her business and transports the ordered products. Her daughters stay home with her grandmother.

In 2005, Bayarmaa started her grocery-product trading business. Her business is really going well and she has been increasing her household income significantly.

Based on her experience, Bayarmaa would like to extend her business by acquiring supplies in a large amount so she can save on transport expenses. She is a hardworking woman who says,"I would like to extend my business so that I can save and spend it to buy supplies next time." The total amount she is requesting is 1,700,000 MNT to buy products to make foods.

Previous Loan Details

Bayarmaa is 26 years old and lives with her husband and two daughters in a ger (a Mongolian yurt) in the Uvurhangai province of Mongolia. Her daughters, who haven't reached school age, stay home. With the help of her husband, she manages a clothes and grocery-product trading business betwee... More from Bayarmaa's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,355.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,275 helped Bayarmaa to purchase products to make foods.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jan 27, 2012
Feb 9, 2012
Currency Exchange Loss:
Jan 15, 2013
This photo was used before for a previous loan for Bayarmaa. It was first posted on Kiva on Jun, 2011. Learn More