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Lhagvasuren
C. Lhagvasuren is 34 years old and lives with her father and 8 year-old daughter in Arkhhangai province in central Mongolia. She lives together with her family in a ger, a traditional Mongolian nomadic tent. Her daughter attends a local secondary school while her father stays home during the day.


Lhagvasuren operates a meat retail business at the local market in her town. Her business is very important to her as it is the only source of income for her family. Lhagvasuren started her meat business in 2005 with capital of about 100,000 tugrugs (~70 USD). Since then, she has established herself amongst her customers as being very reliable and trustworthy and her business has reaped the benefits. Today, after years of effectively managing her business' growth, her working capital exceeds 1,000,000 tugrugs (~700 USD).


For the future, Lhagvasuren hopes to grow her business further in the hope of owning her own stall at a large store. She is also focused on providing a quality life for her family, most importantly her daughter's education. She hopes that her daughter will one day become well educated and contribute to the future development of Mongolia. Lhagvasuren is requesting a 3,000,000 tugrug (~2100 USD) loan to purchase more meat for her 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

  • $2,175
    Average annual income
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,417.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,125 helped Lhagvasuren to purchase more meat for her business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 16, 2009
Listed
Sep 21, 2009
Currency Exchange Loss:
Possible
Ended:
Aug 16, 2011