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Mr. Aristan is 58 years old and lives with his youngest son and wife in Bayan-Olgii province. He lives in a small private house and he is unemployed. His wife is unemployed as well. His son is a college student. He wants to buy a big truck to transport river stones. He has recently met many people in the construction sector that will buy the river stone. He wants to establish a company that has many trucks and cars in the future.

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

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,335.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,625 helped Aristan to buy a big truck to transport riverstones.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 10, 2012
Jul 25, 2012
Currency Exchange Loss:
Dec 17, 2013