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Bayaraa is 35 years old and lives with his wife and two daughters in the Arkhangai province in Mongolia. He and his family live in a ger, a traditional Mongolian nomadic tent. Bayaraa and his wife own a raw material, such as sheep skin and wool trading business in their town where they buy raw materials locally and sell the materials in Ulaanbaatar, the capital city of Mongolia, for a profit. He started his business in 2000 with working capital of 150,000 tugrugs (~100 USD) which soon grew to 4,500,000 tugrugs (~3160 USD). Bayaraa has gained a lot of experience and knowledge over the years and he hopes to use this experience and knowledge to keep his business growing. He would like to, one day, own his own store where he can sell the raw materials and expand his customer base. Bayaraa is requesting a 3,000,000 tugrug (~2100 USD) loan to purchase more raw materials in order to increase sales.

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
  • 1,420.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,125 helped Bayaraa to purchase more raw materials.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Sep 22, 2009
Sep 25, 2009
Currency Exchange Loss:
Aug 15, 2010