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Batbaatar is 43 years old and lives with his wife and and three sons in a ger in Bayanhongor province of Mongolia. His wife has been running a small tailoring service business at home. His sons Duisensangi, age 16, Bayarmagnai, age 14, and Bazarsad, age 10, go to local schools. Batbaatar has been working as a driver in a local private company for seven years. He has been fixing his and his colleagues' vehicles during his work. He has a lot of experience in fixing mini trucks, bigger trucks and vans. He is now requesting 2,000,000 MNT to purchase equipment and spare parts to start his own business of auto repair service on their plot of land. He is a hardworking, optimistic and diligent man.

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
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Batbaatar to purchase equipment and spare parts to start his own business of auto repair service on their plot of land.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 22, 2012
Jan 20, 2013
Currency Exchange Loss:
Oct 17, 2013