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Mr.Baatarjav is 47 years old and lives with his wife and three children in a small house in the Hovd province of Mongolia. His wife, Tsetsegmaa, is 47 and has been operating a small grocery store in the spare room of the house for years. His three children all attend local schools.

Baatarjav has been helping his wife run their grocery store for years, and crafts gers (a Mongolian traditional nomadic tent) equipments at home by order from time to time. He is now planning to make it a business to increase the family income. During the summer grocery store sales fall because schools take summer vacations, and people travel to their families in other parts of Mongolia, etc.

He is now requesting 5,000,000MNT to purchase a starting inventory to start his hand-crafting of traditional nomadic tents. He is a hardworking, talented and modest 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
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,500 helped Baatarjav to purchase inventory to start his hand- crafting of traditional nomadic tents.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Jun 21, 2013
Jul 5, 2013
Currency Exchange Loss:
Jan 6, 2016