A loan of $1,600 helped to purchase more home goods such as pots, pans, silverware, dishes.

Uuganbayar's story

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.

To get regular updates from XacBank, please join our lending team: http://www.kiva.org/team/xacbank_mongolia

Loan details

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Loan details