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Banzragch T. is a 69-year-old businessman. Banzaragach was an accountant with a local government agency for many years and retired in 2003. As soon as he retired, he started a small retail business selling women's and men's shoes. He rented a small stall in Bombogor Center, a local retail market. His daughter travels to Ereen, a Chinese border town, and imports the shoes. He lives with his wife in the Chingeltay district of Ulaanbaatar, the capital city of Mongolia.

Banzragch says that his retirement compensation is not enough to support his family and that is why he started his business. He believes that access to education is the most precious gift that parents can give to their children and he helps share his youngest son's education expenses abroad. If the business does well, he would like to expand by renting one more nearby stall. He requests a loan to purchase more shoes from Ereen, China.

Additional Information

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Banzragch to purchase more shoes from Ereen, China.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 2, 2009
Apr 16, 2009
Currency Exchange Loss:
May 15, 2010