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Ganzaya, 29, lives with her parents and two daughters in a ger (a Mongolian yurt) in Ulaanbaatar city, Mongolia. She is a single mom. Her daughters go to kindergarten. Her mother and grandmother are running a children's shoe (Buryat) production business. Her mother and grandmother taught her how to make Buryat shoes. She learned to make shoes when she was 14 years old. Now she would like to start her own shoe-making business. The raw material for Buryat shoes is much cheaper in the summer. Therefore, she wants to buy cheaper raw materials in a large quantity.

She is diligent and humble woman. She says, "I am responsible for my daughters. They will soon start school. I would like to increase my income for their future." She is requesting 810,000 Mongolian tugriks (MNT) to raw materials for shoes.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,318.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $625 helped Ganzaya to buy raw materials for shoes.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Jun 8, 2012
Jun 18, 2012
Currency Exchange Loss:
Jan 17, 2014