Funded

Total loan: $2,100
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Ulambayar

Mongolia
Hovd, Mongolia / Butcher Shop

A loan of $2,100 helped to buy cattle and sheep.


Ulambayar's story

Ulambayar H. is 36 years old and lives with his wife and two teenage boys in Hovd, one of Mongolia's western provinces. His boys are 9 and 10 years old and go to a local secondary school. Ulambayar runs a small retail business selling meat. He rents a stall at the local food market, where he sells mostly mutton and beef. He buys cattle and sheep from local herders, and slaughters and sells their meat in small pieces. He also owns a small car that he uses as a taxi in the evening. This car helps him earn some extra income for his family. He works very hard and is committed to trying different types of businesses to earn money for his family and increase its well-being. He has applied for this loan to buy cattle and sheep for his business.

About XacBank XacBank was founded in 2001, and listed its first loan with Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

To get regular updates from XacBank, please join our lending team: http://www.kiva.org/team/xacbank_mongolia

To lend to more Mongolian borrowers, please click here:http://www.kiva.org/app.php?page=businesses&queryString=Mongolia&status=fundRaising&gender=All§ors[]=All®ions[]=All&sortBy=Expiring+Soon



Loan details

Loan length:

26 months
Disbursed date: November 13, 2009

Lenders and lending teams



Loan details

Loan length:

26 months
Disbursed date: November 13, 2009