Check out some available loans that are similar to this one!
Yalaltbayar is 35 years old and lives with his wife and 2 children in a small house in Hentii province, Mongolia. His wife Soyolmaa, age 35, works in a local market as a saleswoman. His son, age 11, and daughter, age 7, go to the local school. Yalatbayar worked at a local wooden furniture manufacturing company for 5 years, but he quit because of a health condition that required him to stay at home to receive medications. He has now gotten well and is planning to start his own wooden furniture manufacturing business based on his years of experience and the network he has built over the years. Yalaltbayar is requesting 2,000,000 MNT to purchase equipment, tools, and inventory to start his furniture-making business. He is a hardworking, positive, and honest man.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Yalaltbayar to purchase equipment, tools, and inventory to start a wooden furniture manufacturing business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 22, 2012
Jan 20, 2013
Currency Exchange Loss:
Aug 17, 2013