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Mr. Byamba is 24 years old and lives with his newly wedded wife in a Ger in Tosontsengel soum of Zavhan Province, Mongolia. His wife, Tsendjav, is helping him start his own new business of firewood and charcoal sales. The borrower has graduated from a special training school as a welder and plumber. He has been working as an assistant worker for a private company for the last few years. He just got married, is having a baby soon and needs more money for family expenses. He decided to start his own firewood and charcoal retail business in order to increase his income. He is now requesting 1'500'000 MNT to purchase large amounts of firewood and charcoal to resell in Ulaanbaatar at a higher price. He is hardworking, responsible and a helpful 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
  • 1,398.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Byamba to purchase large amounts of firewood and charcoal to resell in Ulaanbaatar at a higher price.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Nov 10, 2012
Dec 9, 2012
Currency Exchange Loss:
Aug 17, 2014