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Bayarsaihan, 58, lives with his wife in an apartment in Selenge Province, Mongolia. His wife works in the tax department. His daughter has married and lives separately. The borrower has been working at local company for years as construction engineer and retired few years ago. He started his own business selling construction supplies at retail prices in the local market in June 2012. He is planning to insulate his apartment because it is an old apartment built years ago by Russians and now it needs to be insulated in order to stay warm during winter. He is now requesting 6,000,000 MNT to purchase a large amount of insulation material to insulate his house and other customers' houses to stay warm during winter as well as to make money by providing installation services. He is an open-minded, friendly and hardworking man.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,325 helped Bayarsaihan to purchase insulation material to insulate his house and other customers' houses.
100% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
Dec 19, 2012
Jan 18, 2013
Currency Exchange Loss:
Jul 2, 2013