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Uuganbayar is 41 years old and lives with her husband and three children in the Khovd province of western Mongolia. She and her family live in a ger, a traditional Mongolian nomadic tent. Her daughter, 20, attends university and her two sons, 14 and 12, both attend a local secondary school. Uuganbayar operates a home goods retail business in two shipping containers at her local market. She began her business in 2000 in a rented stall at the market and over the years, her business has grown and become successful. In the near future, she would like to purchase one more shipping container so that she can expand her business even further and grow her customer base. Uuganbayar is requesting a 2,300,000 tugrug (~1620 USD) loan in order to purchase more home goods such as pots, pans, silverware, dishes, etc. for her growing 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

  • $5,900
    Average annual income
  • 7
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,448.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Uuganbayar to purchase more home goods such as pots, pans, silverware, dishes.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Nov 11, 2009
Nov 26, 2009
Currency Exchange Loss:
Nov 15, 2010