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Mr.Buyanjargal is 36 years old and lives with his wife and 2 sons in a ger in the Uvs province of Mongolia. His wife Odonhuu, age 30, works at local cafe as chef. His twin sons Enhbayar and Monhbayar, age 7, go to a local primary school. Buyanjargal has been working as a salesman in a butcher shop that is located at the rental counter of local market since 2006. He is now planning to run his own butcher shop in that market and is requesting 3'500'000MNT to purchase starting inventory from herders at lower prices and sell to customers at retail prices for his newly started butcher shop. He is a hardworking, enthusiastic and positive 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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,525 helped Buyanjargal to purchase starting inventory from herders at lower prices for his newly started butcher shop.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Dec 24, 2012
Jan 23, 2013
Currency Exchange Loss:
Dec 17, 2013