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Mrs. Bayarmaa is 29 years old and lives with her parents and brother in Songino Hairhan district of Ulaanbaatar city, Mongolia. Her parents both are retired and stay home. Her brother, Sosor, is 22 and has just graduated from medical school and is now getting a job in a private hospital.

Bayarmaa has been working as a saleswoman for three years and has a lot of experience. She practically runs the clothing retail business of her boss and was in charge of purchasing, selection and other managerial duties.

She is now planning to open her own clothing retail business at a rental counter of the local market. She is requesting 6,000,000 MNT to purchase starting inventory from Erlian, China to sell at her counter. She has good taste in selection of clothes and is well-known in the market.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,588.4
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,800 helped Bayarmaa to purchase a starting inventory from Erlian, China to sell at her counter.
63% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
Jul 30, 2013
Sep 2, 2013
Currency Exchange Loss: