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Solongo
Solongo D. is 35 years old and lives with her husband and three children in Ulaanbaatar, the capital city of Mongolia. Her family lives together in their own ger, a traditional Mongolian housing tent. Her elder two sons attend a secondary school, while her infant son stays at home. Her husband helps out with the business and also works as an electrician to supplement the family's income.

Solongo operates a grocery shop with the help of her mother and husband. She sells a variety of foodstuffs through her grocery shop. Solongo has been in this business since 2005 and has built a stable operation. For the future, Solongo hopes to continue to expand her business and save money in order to obtain assets for her children. She is very hardworking. She is requesting a 3,000,000 tugrik (MNT) loan to purchase more supplies and food items for her store 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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,324.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,275 helped Solongo to purchase more supplies and food items.
100% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 29, 2010
Listed
Oct 2, 2010
Currency Exchange Loss:
Possible
Ended:
Aug 16, 2011