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Batbayar
Mr. Batbayar is 62 years-old and lives with his wife and son in a house in the Uvurhangai province of Mongolia. His wife, Horoloo, is retired and stays home to take care of her husband and son. His son, Otgonlhagva, is 29 years-old and runs a transportation service in town. Batbayar started his business of a cafeteria in a rental place in 1990. He herds his livestock and produces organic dairy products which he sells in the local market.

He is now requesting a loan of 5,000,000MNT in order to purchase insulation and an energy efficient economic stove to install in his son's house to stay warm during winter. He said "my son is already reached the age of marriage and now I am building him a house and let him start his family in there".

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,419.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,525 helped Batbayar to purchase insulation and an energy efficient economic stove to install in his son's house to stay warm during winter.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 27, 2013
Listed
May 28, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014