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Mr.Batjargal is 38 years old and lives with his mother and brother in Ger, traditional nomadic tent, in Uvurhangai province of Mongolia. His mother stays home and takes care of her two sons while she enjoying her retirement. His brother Otgonbayar helps him to start their business of construction services in town.

Batjargal has been growing and selling organic vegetables in their plot of land since 2006 with his mother and brother. He is now starting a construction service business during the off-season of organic vegetable growing. He used to work part-time in a construction site as assistant worker and has experience in the business. He is now requesting loan of 2,500,000 MNT to purchase starting inventory of a plank, cement, spike, and others to start their business. He and his brother are hardworking, very easy learners and diligent 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
  • 1,679.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,500 helped Batjargal to purchase starting inventory of plank, cement, spike and others to start their business.
80% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Sep 24, 2013
Oct 30, 2013
Currency Exchange Loss: