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Bayarbat
Mr. Bayarbat is 32 years old and lives with his wife and son in a rental apartment in Bayanhoshuu district of Ulaanbaatar, Mongolia. His wife, Lhagvasuren, age 32, works as a university professor. His son, Monh-Erdene, age 1, goes to a local kindergarten. This borrower has been running a butcher shop for years, and now he is starting to run a cafeteria and karaoke business in a rental place.

Mr. Bayarbat requested a loan of 5,000,000 tugriks to purchase equipment to start his cafeteria and karaoke business. He is a hardworking, optimistic and decent 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

  • $2,175
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,625 helped Bayarbat to purchase equipment to start his cafeteria and karaoke business in a rental place.
90% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 15, 2013
Listed
Mar 18, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 1, 2014