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Bayartsaikhan
Mr. Bayartsaikhan is 34 years old. He lives with his wife and son in a ger (Mongolian yurt) in Uvs Province, Mongolia. His son, Temuulen, attends a local secondary school.

Mr. Bayartsaikhan started his own wooden furniture manufacturing business in his workshop in 2000. He started making hand-carved music instruments, such as morin khuur (a Mongolian traditional music instrument), in 2012. His wife works as an accountant and helps his business. He has gained a lot of experience and regular customers over the years. He is a hardworking, open-minded and honorable man.

Mr. Bayartsaikhan is now requesting 5,000,000 tugriks to purchase insulation material for his workshop to enable him to work in a comfortable place making wooden inventory to meet clients' orders on time.

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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,735.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,900 helped Bayartsaikhan to purchase insulation material for his workshop to enable him to work in a comfortable place making wooden inventory to meet clients' orders on time.
49% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 22, 2014
Listed
Mar 7, 2014
Currency Exchange Loss:
Possible