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Baasanjargal
Baasanjargal Z. is 49, married, and the mother of three sons. Her family lives in Ulaanbaatar, the capital city of Mongolia. She is a professional tailor. Her husband Tsedenbal works as a driver in a private company.


In 1998, she started making and selling Mongolian traditional shoes. Over time, her quality traditional shoe has attracted more and more clients. When she started her business, her working capital was 150,000 tugrugs ($1.00 USD = 1450 MNT), and her average monthly income was 240,000 tugrugs. As a result of hard work and 11 years of experience, Baasanjargal's working capital has grown to 500,000 tugrugs and her monthly average income has reached 800,000 tugrugs.


One of her sons is handicapped and stays at home. Baasanjargal says, "I'm working hard to increase my family’s income since we really need money for my youngest son's medical payments." She adds, "My hope is to have my own shoe-selling stall in the future."


She requests a loan to buy shoe heels and other raw materials to increase her business inventory.

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

  • $2,175
    Average annual income
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,427.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $300 helped Baasanjargal to buy shoe heels and other raw materials.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 10, 2009
Listed
Apr 21, 2009
Currency Exchange Loss:
Covered
Ended:
Sep 15, 2009