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Bayarnemeh is a 27-year-old widow who lives with her daughter in her own small house. Her daughter goes to secondary school. Bayarnemeh had been managing a dairy products sales business for some years earlier, and now she stopped that business.

Because of the lack of working capital, she is now requesting 5,000,000 MNT to cover rent and inventory for her newly started clothes, bags and wallet retail business. She estimated that the turnover of clothes, wallets and bags would be quicker than dairy products and also more profitable. She wants to increase her working capital and profits in order to improve her own and her daughter's lives. She also wants to save any excess money for her daughter's education and to buy winter clothes to sell. She is a communicative and honest person.

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
  • 1,382.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,625 helped Bayarnemeh to cover rent and inventory for her newly started clothes, bags and wallet retail business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 16, 2012
Oct 30, 2012
Currency Exchange Loss:
Nov 17, 2014