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Gerlee is 42 years old and lives with her husband and son in a ger (Mongolian yurt) in Uvs province of Mongolia. Her husband is a driver who operates his own taxi service business. She manages a shoe-making business in her town with the help of her younger sister. Gerlee started her business in 2005. Her products are well-appraised by her customers. Now she has many regular customers who order several shoes at a time. With her earnings she has been able to buy a car, some furniture and appliances for her family. She is an open-minded woman who says, "One must be a good person." She is requesting a 1,500,000 MNT loan to purchase materials for her 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
  • 7
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,258.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Gerlee to purchase materials for her shoe-making business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 7, 2011
Jun 30, 2011
Currency Exchange Loss:
Jun 20, 2012