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Tsolmon, 45 years old, lives with her husband and two children in a ger (a Mongolian yurt) in Uvurhangai province, Mongolia. Her husband works at a construction site, her older child helps with the business and her younger one is a college student.

Tsolmon operates a garment and home product sales business. She started her business in 2006 by renting a counter in the market. Her shop location is excellent and she has great taste in garments. Tsolmon's products are elegant and relatively affordable. Over the years, she has gained many trusted suppliers and regular customers. Tsolmon is requesting a loan of 1,000,000 MNT to buy more summer garments to make more profits to save money for her daughter's wedding.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,315.0
    Mongolia Tugriks (MNT) = $1 USD