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Batsaihan is 23 years old lives with his wife and daughter in ger in Uvs Province, Mongolia. His wife Enhtor has just started working as assistant worker in a governmental organization. His daughter Soyolmaa is 8 months old stays home with her grandmother during day. Batsaihan used to provide transportation services to local customers, but it is a seasonal job because during winter driving from Uvs Province to Ulaanbaatar, the capital, is nearly impossible. He is now starting a permanent shoe store at a rental counter in the local market. He is requesting 3000000 MNT to purchase inventory and start his business. He is a hardworking, diligent and responsible 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
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,150 helped Batsaihan to purchase inventory and start a new permanent shoe store.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Nov 4, 2012
Dec 4, 2012
Currency Exchange Loss:
Jun 23, 2013