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Dejidmaa M., a 44-year-old widow with two sons and one daughter, currently resides with her two younger children in Arhangai Province, one of Mongolia's central provinces. The oldest son, Ganbat, 23, helps in her business full time. Her only daughter Ganchimeg, 18, is a university student in Ulaanbaatar, the capital city of Mongolia. The youngest son, Ganbold, 16, goes to a local high school.

Dejidmaa rents a small stall in the local food market and sells various daily food products such as soft drinks, biscuits, etc. She has been in the food retail business since 1995 and in the meantime, her business capital has increased from 300,000 MNT to 5,000,000 MNT. She recently bought a small stall in the clothing market for her son, where he currently sells various women's and children's clothes. Dejidmaa is helping her son launch his own business so that he can become financially independent.

She is now requesting a loan to purchase more products for her 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

  • $5,900
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,450.1
    Mongolia Tugriks (MNT) = $1 USD