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Batbold, 28, lives with his wife and son in a ger (Mongolian yurt) in Bayanhongor province, Mongolia. He started his garment retail business on a rental counter in 2006. His wife helps with his business. He is well known by the local residents. His business is sustainable and has many regular customers and suppliers. Currently, his wife usually runs the garment retail business. He wants to expand his business. Therefore, he has decided to start his new business repairing bicycles. He is a hardworking and humble man. The loan he is requesting will be used to buy some necessary equipment. He is requesting 3,500,000 MNT to purchase necessary equipment for bicycle repair.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 1,337.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,625 helped Batbold to purchase necessary equipment for bicycle repair.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 16, 2012
Jul 17, 2012
Currency Exchange Loss:
Jul 17, 2014