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Mr. Batbayar, aged 36, lives with his wife and two children in an apartment in Ulaanbaatar. His son goes secondary school and his daughter goes to a kindergarten. In 2009, he started up a grocery business with his wife, named Odgerel, in a 'ger' district of Ulaanbaatar. They are experienced enough to conduct the grocery business. Their monthly profit is approximately 1,000,000-1,500,000 MNT. Before this, they got loans ranging from 1,500,000-4,800,000 MNT and had been repaying their debt on time. The previous loans were used to decorate and restore their apartment and buy furniture.

Mr. Batbayar is requesting a 5,000,000 MNT loan to buy a car for shipping.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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 $3,750 helped Batbayar to buy a car for shipping goods.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 6, 2012
Jul 30, 2012
Currency Exchange Loss:
Apr 17, 2013