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Mr. Bayarsaihan is 41 years old and lives with his wife and 2 sons in a house in the Bayanhoshuu district of Ulaanbaatar, Mongolia. His wife, Otgontsetseg, age 41, works at a local school as a teacher. His son, Ariunsanaa, age 21, studies at university and son Tovshinsanaa, age 14, goes to a local school.

The borrower has been working at a local auto repair center since 2006. He is now starting his own auto repair service business on his plot of land and is now requesting 5,000,000 MNT to purchase necessary equipment and tools to start his new auto repair business. He is a hardworking, enthusiastic person who has lots of experience in business.

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

  • $2,175
    Average annual income
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,625 helped Bayarsaihan to purchase necessary equipment and tools to start his business.
56% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Feb 18, 2013
Mar 18, 2013
Currency Exchange Loss: