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Nergui O. is 42 years old and lives with her husband and four children in a ger, a traditional Mongolian nomadic tent, in Hovd province in western Mongolia. Her younger two children attend a local middle school while the elder two children help out with their family business. Nergui works in a small underground water well, delivering water to local people.

Her husband has been engaging in ironsmithing for 25 years in his town and has gained much experience in the business. Now he is teaching and instructing his son how to process iron and make quality products.

For the future, Nergui's dream is to buy a large amount of stock in order to increase her business line, and to save money for her youngest children's further education fees and expenses.

Nergui and her husband are both hardworking people. She is requesting a 1,800,000 Mongolian tugriks loan to purchase precious stones, jewelries, gold and silver in order to produce rings, earrings, snuff bottles and horse bridles for their business.

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,444,050
    Funds lent in using Kiva
  • 1,322.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,375 helped Nergui to purchase precious stones, jewleries, gold and silver.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 6, 2010
Aug 17, 2010
Currency Exchange Loss:
Apr 17, 2012