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Mr. Baatar is 22 years old and lives with his brother in a ger, a Mongolian yurt, in the Govi-Altai province of Mongolia. His brother works for a local private company. Mr Baatar's parents are herders and live in the countryside. He has been working as a salesperson at his uncle's clothing sales counter in a local market for years, and now he is starting his own clothing sales and rental counter in the local market. He is now requesting 1,000,000 MNT to purchase starting inventory for his new business. He is a hardworking, optimistic, and modest 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
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Baatar to purchase inventory to start a new business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Dec 24, 2012
Jan 22, 2013
Currency Exchange Loss:
Sep 19, 2013