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Bayarmagnai is 33 years old and lives with his wife and two children in a ger (a Mongolian yurt) in Arhangai province, Mongolia. His wife is a nurse, his elder daughter is a student and his younger one goes to kindergarten.

Bayarmagnai started his transportation business in 2001 with his own van. Since he is very experienced and his van is very convenient, he has many regular customers. Bayarmagnai is requesting a loan of 3,000,000 MNT to service his van since it is having some technical problems. Bayarmagnai is a sharp and hardworking man who says, "I do everything I can to make my customers comfortable."

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
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,350 helped Bayarmagnai to service his van.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 28, 2011
Nov 14, 2011
Currency Exchange Loss:
Feb 21, 2012