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Bayarmaa is 43 years old, lives with her husband and son, in own apartment in Bayanzurh district in Ulaanbaatar of Mongolia. Her husband Bolderdene is civil servant, and 43 years old. Her son's named Odbayasgalan. he is a collage student, and 19 years old. In 2000, she started her cake production business, with her friend and had such is experience. Now she would like to operate her own cake production business alone by herself. She makes 4-5 kind of cakes. She is well known to customers. She has already been many regular customers and suppliers. Also she is planning to make kebab and patty. She is a very hard-working, responsible women. She requesting 4,000,000 MNT, to purchase materials to make cakes.

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
  • 1,342.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,000 helped Bayarmaa to purchase materials to make cakes.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Jul 30, 2012
Aug 12, 2012
Currency Exchange Loss:
Aug 17, 2014