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Baatar is 39 years old and lives with his wife and 2 children in a ger (traditional nomadic tent) in the Govi-Altai province of Mongolia. His wife Narmandah works at the local market as a saleswoman. His son Hosbayar, age 17, and daughter Hishigjargal, age 11, go to local schools. Baatar has been working as a butcher for years, and he is now starting his own business selling meat products in town. He has built a strong business network, and he is now requesting 360,000 MNT to purchase a large amount of livestock intestines, heads, and other organs to sell to large manufacturers in the capital city. He is hardworking, friendly, 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $275 helped Baatar to purchase a large amount of offal to sell.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Jan 18, 2013
Feb 19, 2013
Currency Exchange Loss:
Nov 17, 2013