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Baljinnyam
Baljinnyam, aged 41, lives with his wife and his three children in a ger (a Mongolian yurt) in Suhbaatar province, Mongolia. His three children are secondary school students. He has started to run a meat retail business with his wife's help. Baljinnyam has more than 200 livestock. His cattle are located 60 km from Suhbaatar province with his brother's livestock.

Every summer, sheep and goats are cheaper than ever. Therefore, Baljinnyam has decided to purchase some cattle to raise with his brother's cattle. He is planning to sell them in autumn in order to increase his business income. He is a humble and communicative man. He is requesting a loan of 1,500,000 MNT to buy more cattle at wholesale prices.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,327.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,150 helped Baljinnyam to buy more cattle at wholesale prices.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 21, 2012
Listed
Jul 7, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 15, 2013