Check out some available loans that are similar to this one!
Mr. Bayarmagnai is 36 years old and lives with his wife and two children in Ger, in the Bayanhongor province of Mongolia. His wife, Buyanhishig, is 33 years old and works at a local medical resort as a chef. His two children study at a local school.

Bayarmagnai has been manufacturing wooden furniture at home and is now planning to make it his official business. He is now requesting 3,000,000 MNT to build a small workshop on his plot of land in order to start his wooden furniture manufacturing business. He is a hardworking, diligent and responsible 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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,100 helped Bayarmagnai to build a small workshop on his plot of land in order to start a wooden furniture manufacturing business.
88% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
May 21, 2013
Jun 26, 2013
Currency Exchange Loss:
Jun 12, 2015