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Byambadoo, age 54, runs his own business transporting and selling firewood. He became engaged in this kind of work in 2005, when he started working for a local company as a driver. In his new business, he transports firewood from the countryside to town, where he offers it for sale. He would like to start selling additional consumer goods as well.

Byambadoo lives with his wife Surenhorloo and their daughter in a small house in the Bayanhongor province of Mongolia. Surenhorloo herds livestock to earn an income and their daughter is a senior student at the local university.

Byambadoo has gained valuable experience and is a hard-working man with a positive reputation. He is requesting a loan in the amount of 2,500,000 MNT to purchase starting inventory for his newly-starting business retailing consumer goods and firewood in town.

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
  • 1,427.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Byambadoo to purchase starting inventory for his newly-starting business retailing consumer goods and firewood in town.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
May 28, 2013
Jul 1, 2013
Currency Exchange Loss:
Feb 17, 2014