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Chimedtsogzol is a 47-year-old widow who lives with her four children in Arkhangai province, Mongolia. She and her children live in a Mongolian nomadic tent called a "ger." Her eldest daughter, 22, attends university, and her eldest son, 20, is in the army; her younger son, 17, is disabled while the youngest son, 9, goes to a local secondary school.

Chimedtsogzol supports her family by operating a door-to-door grocery and dairy product retail business in her town. She started her business in 2000 with working capital of 80,000 tugrugs (~56 USD). Over the years of business operation she gained much experience and is well known among her customers. Now her working capital exceeds 1,000,000 tugrugs (~700 USD). She attributes her business success to her good accounting and communication skills. She says, "For the future I am planning to expand my business further, but my main business goal is to provide quality products to my customers." She is requesting a 1,000,000 tugrug loan to purchase dairy products to sell this coming winter when dairy products become scarce and prices for these products rise.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,430.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $700 helped Chimedtsogzol to purchase dairy products.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Dec 23, 2009
Jan 6, 2010
Currency Exchange Loss:
Jun 15, 2010