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Mrs. Batchimeg, 36 years old, is the female head of the family living with her 2 sons in a ger (a traditional Mongolian yurt) in Dornogovi province, Mongolia. Her son, Bayarbat, has just returned from military service and her other son, Bayarsaihan, age 13, goes to the local school. Batchimeg has been running a business selling general products at a rental counter of the local market since 2009. Her older son is now planning to start his own interior designing service business in town. Batchimeg is requesting a loan of 2,500,000 MNT to purchase equipment and tools for her son to start his own business. Batchimeg's family all are hardworking and friendly people.

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
  • 1,382.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Batchimeg to purchase equipment and tools for her son to start his own business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 26, 2012
Jan 25, 2013
Currency Exchange Loss:
Jan 17, 2014