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Batsuren
Batsuren is 28 years old and lives with her husband and 5-year-old daughter in the Arkhangai province of Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent. Her husband is an inspector at the bank of Mongolia, and Batsuren owns a retail clothing business in her town. She began her business in 2007 with working capital of 1,000,000 tugrugs and now her working capital exceeds 2,800,000 tugrugs. Because of her business success, she has been able to improve her family’s finances and improve their quality of life. Batsuren would like to eventually own her own shop and expand her clothing offerings for her customers. She is requesting a 4,000,000 tugrug loan in order to purchase more clothes and begin the expansion of her business.




About XacBank
XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

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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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,800 helped Batsuren to purchase more clothes and begin the expansion of her business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 22, 2009
Listed
Nov 22, 2009
Currency Exchange Loss:
Possible
Ended:
May 15, 2010