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Tserendoljin G. lives with her husband in Arhangai, one of Mongolia's central provinces. Tserendoljin has a small butchery business, which she started in 2006. Her husband drives his truck to herder families from whom he purchases sheep, goats and cattle at discounted prices. They are slaughtered at their butchery shop for individual sale. When meat prices are high, they usually deliver the meat to the wholesale markets in Ulaanbaatar, the capital of Mongolia. From the beginning, the business has been a success; Tserendoljin's business capital has increased from 200,000 MNT to 1,500,000 MNT.

As the biggest public celebration, Naadam, approaches in July, Tserendoljin and her husband plan to bring more livestock to Ulaanbaatar. Tserendoljin is requesting a loan to purchase more livestock to prepare for the Naadam celebration in the capital. In the future, she wants to move to the countryside and become a herder woman with some 500 livestock.

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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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,415.0
    Mongolia Tugriks (MNT) = $1 USD