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Bayarsaihan, 26, lives with his family in a ger, a Mongolian yurt, in the Huvsgul province of Mongolia. His wife works as a hairdresser at a beauty salon and his daugther attends local high school. Bayarsaihan started to sell clothes with his sister in 2009. Aside from this business, he runs a block manufacturing factory at his home. So far, his businesses are running successfully. He plans to purchase many clothes and goods before the new school year starts.

He is a hardworking and diligent man who says "I want to buy many clothes and goods before September when the sales will go up dramatically." He is requesting 1,500,000 MNT to purchase clothes and increase his sales turnover.

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
  • 1,229.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,225 helped Bayarsaihan to purchase clothes for resale.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 11, 2011
Aug 26, 2011
Currency Exchange Loss:
Sep 15, 2012