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Update on Baljinnyam

Baljinnyam is a 61-year-old widow, who lives with her grandson, Achgerel. He will enter college this season. She is an elderly, hardworking woman.

Because she was a herder in the countryside from childhood until 1992, she learned to make felt and twine wool. Consequently, she has extensive experience and now runs her own business making traditional Mongolian clothes and covers, belts, beds and felt mattresses for gers.

Because her products are well known by the rural residents, she has many clients. She requests a loan of 1,000,000 MNT to buy felt and other raw materials to make bedding and other items for gers.

Previous Loan Details

Baljinnyam is 60 years old and lives with her grandson in a ger, a traditional Mongolian nomadic tent, in Uvurhangai province of Mongolia. She moved to her current town in 1992 after living in the countryside as a herder. Baljinnaym operates a clothes making business in which she not only sews th... More from Baljinnyam's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,367.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Baljinnyam to buy felt and other raw materials to make traditional Mongolian bedding.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 23, 2012
Aug 31, 2012
Currency Exchange Loss:
Aug 17, 2014