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Norovsuren
Norovsuren T. lives with her teenage daughter in Uvurhangai province, Mongolia. She and her daughter live in a 'ger', a traditional Mongolian nomadic tent. Her daughter attends a local high school. Her husband passed away so she is a widow.

Norovsuren operates a business selling veterinary medicines and eye-glasses in her town. She started her business in 1995 by selling a variety of veterinary medicines and men's & women's clothes in a rented stall at her local market. Since then, she keeps running her pharmacy for livestock with a stable operation.

Norovsuren also sells eye-glasses in addition to her business. She purchases her inventory for both businesses 1-2 times a month, depending on her inventory or sales. Over the years, she has gained much experience and built a positive reputation for her business in the community. She says, "In the future, I want to expand my business and also to provide for my daughter's education". She is requesting a 2,500,000 MNT loan to purchase more veterinary medicines and eye-glasses at wholesale prices from Ulaanbaatar, the capital city of Mongolia.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,330.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,900 helped Norovsuren to purchase more veterinary medicines and eye-glasses.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 31, 2010
Listed
Sep 22, 2010
Currency Exchange Loss:
Possible
Ended:
Oct 19, 2011