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Chinbat R. is a modest, open-minded man. He is 31 and lives with his wife and son in Huvsgul province, Mongolia, in their own fenced ger, a traditional Mongolian housing tent. His son, Batzolboo, attends a local secondary school while his wife is currently unemployed.

Chinbat has been operating a mobile phone business in a rented store space for ten years and now has some clients. He purchases mobile phones and tools by himself. He hired his sibling as a salesperson at his stall.

Chinbat wishes to expand the business and own his shop. He is requesting a 3,600,000 MNT loan to purchase mobile phones and spare parts in order increase his 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
  • 1,331.2
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,725 helped Chinbat to purchase mobile phones and spare parts.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 10, 2010
Sep 21, 2010
Currency Exchange Loss:
Dec 15, 2010