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Battulga is 40 years old and lives with his wife, Badamgerel, in a ger district of Ulaanbaatar, the capital city of Mongolia. His wife is unemployed. His two children live separately.

He conducted a radio and TV repair business from 1994 to 2002. He has also been well-experienced in the taxi service business.

He wants to purchase a car for his new taxi service business, but he lacks working capital, so he needs 3,500,000 MNT loan to purchase the car.

Battulga's goal is to increase his profit and to save the money to start an auto repair service.

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,340.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,625 helped Battulga to purchase the car for his new taxi service business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 27, 2012
Aug 14, 2012
Currency Exchange Loss:
Aug 17, 2014