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Tserenmyadag S. is 45 year old and lives with her one daughter and husband in a Mongolian nomadic dwelling called a ger in Ulaanbaatar, the capital city of Mongolia. Her adult-aged daughter currently attends university, and her husband works as an electrician in the local kindergarten.

Tserenmyadag has been operating her grocery store in a rented space since 2009 and has found success with it. She hopes to expand her business, and her dream is to open her own big grocery store. Tserenmyadag is requesting a 2,000,000 MNT loan to purchase more products in order to increase her working capital.

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
  • 1,327.2
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Tserenmyadag to purchase more products.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Sep 13, 2010
Sep 30, 2010
Currency Exchange Loss:
Feb 16, 2011