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Bayartsaihan
Mr. Bayartsaihan is 45 years old and lives with his wife and three daughters in a ger, or traditional nomadic yurt, in Uvs province, Mongolia. His wife Chimgee manufactures traditional leather boots at home and his daughters attend local public schools. Bayartsaihan started his transportation business to serve smaller administrative areas within the province with his small truck. He is a careful and reliable driver and popular with his customers. He needs 2,700,000 MNT to replace some parts to ensure that his truck is safe. He will also use a portion of this loan to buy leather for his wife to use in her boot-making business. The Bayartsaihan's are hardworking and enthusiastic people.

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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,705.9
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,600 helped Bayartsaihan to repair his vehicle and buy leather for his wife's boot-making business.
69% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 23, 2013
Listed
Jan 22, 2014
Currency Exchange Loss:
Possible