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E. is a 37-year-old widow who lives with her three children in the Bayanhongor province of Mongolia. She and her three children live in a ger, a traditional Mongolian nomadic tent. All three of her children attend university and E. operates a meat retail business out of a rented stall in a local market. She began her business in 1998 and in her eleven years in operation, she has gained many loyal customers and much experience. She is planning on building and opening a small grocery store next year so that she can increase her income and pay for her children’s tuition fees more easily. E. is requesting a 3,770,000 tugrug (~2650 USD) loan to purchase a large amount of meat for her business during the upcoming winter months.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,448.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,625 helped Dulam to purchase a large amount of meat for her business during the upcoming winter months.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Oct 30, 2009
Nov 26, 2009
Currency Exchange Loss:
Sep 15, 2010