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Erdenebaatar is a 44-year-old man who lives with his wife and two sons in a house in Dornod Province, Mongolia. His wife, Ichinhorloo, aged 45, works as a saleswoman at the local market. His sons, Davaahuu and Davaadorj, aged 18 and 16, are university students.

Erdenebaatar has also been working as a salesperson in the local market for years and now he is planning to start his own clothing retail business there. He is a welcoming and communicative person who says "I and my wife had built close relationships with customers and suppliers within the province so it will be easy for us to run our own business". He is requesting a loan of 2,590,000 MNT loan to import clothes for his new business.

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
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,875 helped Erdenebaatar to import clothes for his new clothing retail business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Oct 26, 2012
Nov 22, 2012
Currency Exchange Loss:
Apr 17, 2013