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Suren
B. Suren is 45 years old and lives with her husband and 18-year-old daughter in the Chingeltei district of Ulaanbaatar, the capital city of Mongolia. The family lives in a 'ger', or traditional nomadic tent, on the outskirts of the city. Her daughter attends a local high school, her husband works as a driver for a private company, and Suren operates a retail clothing stall in Bumbugur market. She began her business in 2006 and currently has working capital exceeding 3,000,000 tugrugs with her monthly sales approximately 1,300,000 tugrugs. She makes a monthly profit of between 200,000 and 300,000 tugrugs, and her business is now completely sustainable.



Suren is good at managing money and says, "I'm saving money in order to pay my daughter's tuition". She is requesting a 2,000,000 tugrug loan (approx. $1,375 USD) in order to increase her working capital and to purchase clothing to sell.

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

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,450.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,400 helped Suren to purchase more apparel for her business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 28, 2009
Listed
Jan 19, 2010
Currency Exchange Loss:
Possible
Ended:
Mar 24, 2011