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Bayar is 47 years old and lives with his wife and four children in a small house in Bayan-Ulgii Province, Mongolia. His wife, Kenshilik, is also 47 years old. She makes handicrafts. His older daughter, Aigerim, is 20 years old. She is a college student. His son, Erkibulan, is 19 years old. He is also a college student. His younger daughters, Ayaujin and Aijian, are aged 16 and 14. They are in school.

Bayar started his business in 2006 by making home utilities out of steel. He usually makes eco-friendly ovens. His monthly income is between 600,000 MNT and 800,000 MNT. He is a well experienced and open-mined man. He is requesting a loan of 5,000,000 MNT to purchase raw materials for his business.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,355.0
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,700 helped Bayar to purchase a raw materials for his business.
84% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Aug 6, 2012
Aug 19, 2012
Currency Exchange Loss: