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Horolgarav
Horolgarav S. is 43, married and has two sons. Her family lives in a ger (a nomadic Mongolian tent) district in Arhanghay, one of Mongolia's central provinces. Her eldest son married and lives apart from his parents. The youngest son, Ganbayar, is 19 and is attending high school. Horolgarav's family proudly owns the plot of land where they live.


Together with her husband Batmunh, Horolgarav has been running a butcher stall at the local market. In 1996 they bought and opened their first butcher stall at the market, giving them 13 years of experience in the industry. Both she and her husband are well respected by their community and have many repeat customers. At the start, their business working capital was 200,000 tugrik (roughly $US140). Because of Horolgarav's 13 years of hard work, her inventory has increased to 2,500,000 tugrik.


With this loan Horolgarav will buy more sheep and cows from local herders. She is planning to buy another stall soon to expand her family business.

Additional Information

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,382.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Horolgarav to buy sheep and cows from local herders.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 12, 2009
Listed
Apr 9, 2009
Currency Exchange Loss:
Covered
Ended:
Oct 15, 2009