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Batbayar
Batbayar, 33, lives with his wife and four children in a ger, or traditional Mongolia yurt, in Zavhan province. His older three children go to the local primary school while his youngest son, Huslen, is two and goes to the local kindergarten.


For the last few years Batbayar and his wife have sold livestock and firewood during the summer months. He has past experience in selling livestock. He bought a small truck and plans to transport livestock to Ulaanbaatar before the new year when most households buy large quantities of meat or livestock.


Batbayar is a hardworking, helpful and diligent man who is now applying for a 6,000,000 MNT loan. He will use the money to buy livestock from herders and sell them to Ulaanbaatar residents.

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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,740.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,450 helped Batbayar to buy livestock from herders and sell them to Ulaanbaatar residents.
70% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 19, 2013
Listed
Nov 19, 2013
Currency Exchange Loss:
Possible