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Tsegmed
Tsegmed S. is 57 years old and lives with her son in the Bayanhoshuu of Songinohairhan district of Ulaanbaatar, the capital city of Mongolia. She and her family live in a ger, a traditional Mongolian nomadic housing tent and enclosure. Her son, age 36, works for the water cleaning company while Tsegmed owns and operates a clothing production business in her home. She has been working as a seamstress for 20 years and started her own business in 2004 based on her many years of experience. For the future, she plans to expand her production so that she can buy a shoemaking machine which will enable her to start another business. She is requesting an 3,000,000 MNT loan to purchase more fabrics and materials in order to make a variety of evening dresses for the upcoming New Year's holiday.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,247.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Tsegmed to purchase more fabrics and materials.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 21, 2010
Listed
Jan 4, 2011
Currency Exchange Loss:
Possible
Ended:
Jan 15, 2013