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Myagmarjav is 27 years old. He lives with his wife and three daughters in Ger in Uvs Province, Mongolia. His wife, Gerelmaa, stays home and takes care of their newborn baby daughter Badamhatan, age 1. His daughter Altantuya, age 6, goes to the local primary school, and Saruul goes to kindergarten. The borrower is partially disabled, and his wife needs to work in order to cover their family expenses. His wife has been working as tailor in a private company for years. She is now starting her own tailoring business at home and is requesting a loan of MNT 600,000 to buy inventory to start this business. Both the borrower and his wife are hardworking, diligent, and responsible.

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
  • 1,399.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Myagmarjav to buy inventory for his wife's tailoring business at home.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Feb 25, 2013
Mar 29, 2013
Currency Exchange Loss:
Jul 9, 2013