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Byambajav, 38, lives with her husband and daughter in small house in Selenge Province, Mongolia. Her husband Batbayar, 41, is herdsman. Her daughter Tsetsegee, 16, goes to a local secondary school. The borrower was a herder in the countryside for 20 years and moved to province center and started working as a saleswoman in a shop selling bags in a local market. She is now planning to start her own bag shop retail in that market and is therefore requesting 3,000,000 MNT to purchase an initial inventory of bags from Erlian, China for her new new shop. She is a well-experienced, responsible and hardworking woman.

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

Success!! The loan was 100% repaid

A loan of $2,175 helped Byambajav to purchase an initial inventory of bags from Erlian, China for her new new shop.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 24, 2012
Jan 23, 2013
Currency Exchange Loss:
Oct 17, 2013