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Mrs. Togtohbayar is 49 years old and lives with her husband and two children in a ger (a Mongolian housing tent) in Hovd province, Mongolia. Her husband, Buhchuluun, works in a private company. Her older daughter, Amarzaya, is 15 years old. Her son, Nemehbayar, is 13 years old. They are secondary school students.

Mrs. Togtohbayar has been working as an assistant in the meat trading business, and now she is planning to operate her own meat trading business at a local market. She needs 2,000,000 MNT (Mongolian tugriks) to buy cattle for the newly started business of hers.

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
  • 1,374.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Togtohbayar to buy cattle for her newly started business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 17, 2012
Oct 21, 2012
Currency Exchange Loss:
Aug 17, 2014