A loan of $1,300 helped to purchase food products.

Bavuudorj's story

Bavuudorj C. is a 38-year-old married man who has three children ranging in age from 9 to 13. His family lives in a ger district, on a plot of land he owns in Arhangay, one of Mongolia's central provinces. In 2003, his family moved from Hangay, a small administration center, to a central province looking for a better life. As soon as he moved in, he started his own small business selling food products together with his spouse, Gerelt-Od, age 34. Bavuudorj has a secondhand Japanese vehicle. He usually purchases food products from the local central market at wholesale prices, then drives to the countryside to visit local herders and sell his products door-to-door. When he began his retail business, he purchased items for 1 million tugrugs ($1 USD = 1450 MNT). Now his working capital has increased to 2 million tugrugs. In 2007, he bought a plot of land in a central province with his profit. With future profits, he plans to build a house for his household needs. Bavuudorj is a very quiet and hardworking person. His wish is to expand his business as soon as possible, since it is the only source of his family's income. Bavuudorj requests a loan to purchase food products for his business.

About XacBank:
Founded in 1998, XacBank is a community development bank and microfinance institution in Mongolia, headquartered in Ulaanbaatar. It currently serves approximately 16,000 clients from 76 branches in all 21 aymags (provinces) in Mongolia, making it the largest microfinance institution in the country.

XacBank's mission is to contribute to sustainable development of Mongolia that can only come from educated and skilled people and competitive and dynamic businesses concerned equally about planet, people, and profit. The bank provides equitable access to transparent, reliable and responsive banking products and services to the bank’s clients, including its traditional micro-entrepreneurs as well as small and medium businesses.

Your loan enables XacBank to expand its microloan capacity and return a portion of the interest back to the borrower at the end of the loan term.

To learn more, please visit the XacBank website at: www.xacbank.mn.

Loan details

Lenders and lending teams

Loan details