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Mr. Battulga is 50 years old and lives with his wife, Tumendemberel, and two children in the Govi-Altai province of Mongolia.

His wife helps his business and his children go to the college. He worked in a private company as a civil assistant engineer for 30 years.

He has just started a grocery store business. But he lacks working capital, so he needs 2000,000 MNT to purchase goods for his grocery business.

Mr. Battulga is a hardworking and tidy man. He said, "My business efficiency and profit is produced by expanding the grocery store business and improving my life." Now his business is sustainable and has many regular customers.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 1,352.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Battulga to purchase goods for his grocery business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 9, 2012
Aug 15, 2012
Currency Exchange Loss:
Jan 15, 2013