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Update on Bayraa

Bayaraa is 42 years old and lives with her husband and three children in a ger in Uvurhangai province, Mongolia. Her husband helps with her business. Her two sons go to the secondary school, and her eldest daughter goes to college.

In 2003, she started her retail meat business in the trading center of Uvurhangai. Currently, she is also wholesaling sheep with her husband. She uses a mini truck to buy sheep from herders of several provinces in Gobi. In the summer, sheep are cheaper than any other time; therefore, she is requesting a loan of 3,300,000 MNT to purchase some sheep. She is a good-natured woman who says, ''Because a retail business's cash turnover is better than wholesaling, my income will increase." She wants to grow and improve her business in the future.

Previous Loan Details

Bayraa is 41 and lives with her husband and three kids in a ger (Mongolian yurt) in the Uvurhangai province of Mongolia. Her husband helps with her business. Her eldest daughter is a college student and the other two children are school students. She started her meat retailing business in 2003 by... More from Bayraa's previous loan »

Additional Information

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,444,050
    Funds lent in using Kiva
  • 1,367.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Bayraa to purchase some sheep.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 16, 2012
Oct 1, 2012
Currency Exchange Loss:
Dec 17, 2013
This photo was used before for a previous loan for Bayraa. It was first posted on Kiva on Nov, 2011. Learn More