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Mrs. Byambatumur, 42 years old, lives with her three children in a house in the Suhbaatar district of Ulaanbaatar. Her oldest son helps with her business, her youngest son is in secondary school, and her daughter is a teacher at the University.

Byambatumur and her older son have prior business experience dating back to 2002, when they were in the electronic goods retailing business. Now her son will operate the electronic goods retailing business and she is planning to start a retail clothes business. She turns a car into a make-shift shop to sell clothes in Ulaanbaatar. She would like to expand her business by increasing the variety of goods she sells. Byambatumur needs 3,000,000 MNT to purchase more inventory. She is a hard-working woman who says ''I will spend the profit from the business for my youngest son's tuition.''

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
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,200 helped Byambatumur to purchase more inventory.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 22, 2012
Sep 5, 2012
Currency Exchange Loss:
Sep 17, 2013