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Tsend-Ayush T. is 40 years old and lives with her husband and three sons in Arkhangai Province, Mongolia. She and her family live in a traditional Mongolian housing tent called a "ger." Her two oldest sons attend university and her youngest is in high school. Tsend-Ayush opeartes a mobile clothing trading business with the help of her husband in her town. She started her business in 2000 with capital of 50,000 tugrugs (~35 USD) and quickly grew it to a stable operation. She continues to build on her experience and attributes her success to her good accounting skills. Today, her working capital exceeds 2,00,000 tugrugs (~1400 USD) and she has many loyal customers. Tsend-Ayush is looking toward the future and says, "I want to expand and improve my business." She is requesting a 1,500,000 tugrug (~1050 USD) loan to purchase clothes to sell in 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

  • $5,900
    Average annual income
  • 7
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,460.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,050 helped Tsend-Ayush to purchase clothes to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 24, 2009
Dec 7, 2009
Currency Exchange Loss:
Dec 16, 2010