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Samba
T. Samba lives in Uvurkhangai province in central Mongolia with her 15-year-old grandson. They live together in a traditional Mongolian nomadic housing tent called a "ger". Samba operates a consumer goods trading business out of a small shipping container in her town. She imports products such as clothes twice a month from China to supply her business. Samba started her business in 2002 after working as a hairdresser for several years. At first, she rented a stall at the local market to conduct her business. After several years of steady growth, Samba used her earnings to purchase the shipping container in 2005. Operating from the container has allowed her to grow her business further and she is now looking for more ways to increase her earnings. Samba has much hope for the future and says, "I am working hard to save for my grandchild's education." She is requesting a 2,500,000 tugrug (approximately 1750 USD) loan to purchase a variety of clothes from China.



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



To lend to more Mongolian borrowers, please click here:http://www.kiva.org/app.php?page=businesses&queryString=Mongolia&status=fundRaising&gender=All§ors[]=All®ions[]=All&sortBy=Expiring+Soon

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,432.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,750 helped Samba to purchase a variety of clothes from China.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 4, 2009
Listed
Dec 1, 2009
Currency Exchange Loss:
Possible
Ended:
May 15, 2010