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Mrs. Bayarmaa is 47 years old and lives with her husband and two daughters in a small house in Arhangai province, Mongolia. Her husband, Tumenjargal, works as a driver for a public transportation company. Her two daughters, Otgonjargal and Oyunjargal, are 21 and 15 years old. Her older daughter is a college student and her younger daughter is a secondary school student.

Mrs. Bayarmaa has worked as a chef in private restaurants and cafes. She is starting her new business of food delivery. She did a trial of her newly-starting food delivery business and it was very attractive to customers. She estimated potential profit from this business. She is also planning to expand this business in future.

Mrs. Bayarmaa is a modest and hardworking person. She is asking for a loan of 1,700,000 MNT to purchase inventory for her food delivery business.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,225 helped Bayarmaa to purchase inventory for her food delivery business.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 19, 2012
Oct 16, 2012
Currency Exchange Loss:
Aug 17, 2014