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Update on Byambadolgor

Mrs Byambadolgor is a 41-year-old female. The head of her family, she lives with her four children in a Ger, a traditional nomadic tent, in Uvs province of Mongolia. Her older daughter helps her to run their family business producing and selling wool and cashmere products from a rented location. Her older son Hohchandman is a university student and her younger two sons Natsagdorj and Lhagva are local secondary school students.

She has been running her business for years and has lot of experience. She recently had a medical problem and stopped her business for 6 months. Now she is restarting her business and is requesting loan of 2,500,000 MNT to purchase a large amount of inventory to produce a variety of wool and cashmere products to sell to local customers. She is a hardworking, open-minded and kind woman.

Previous Loan Details

Mrs. Byambadolgor lives with four children and a niece in a ger (a Mongolian yurt) in Uvurhangai province, Mongolia. Her husband passed away many years ago. Her oldest daughter, Dejidmaa, is 21 years old; her oldest son, Hanchandmanai, is 19 years old; her younger son, Natsagdorj, is 15 years old... More from Byambadolgor's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,560.4
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,625 helped Byambadolgor to purchase raw materials to make felt underlining and blankets.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 5, 2013
Aug 25, 2013
Currency Exchange Loss:
Jan 6, 2016
This photo was used before for a previous loan for Byambadolgor. It was first posted on Kiva on Sep, 2012. Learn More