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Mr. Batbold is 28 years old and lives with a wife and two sons in Ger, Govi-altai Province. He has been working in firewood and coal sales with his wife since September 2010. One of his sons is a student, and another is in kindergarten. Mr. Batbold decided to rent his own place to sell coal and firewood. He and his wife have plenty of experience in that area. He is requesting 1,000,000₮ to buy cheaper firewood in bulk from Zavhan province and sell it in the local market at a higher price. He said, "We are a young family. We want to operate our own business and buy a truck. If we have a truck, sales would increase and profit would be maximized." He is a hardworking and enthusiastic person.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Batbold to buy cheaper firewood in bulk from Zavhan province and sell it in the local market at a higher price.
91% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Oct 4, 2012
Oct 24, 2012
Currency Exchange Loss:
Mar 3, 2015