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Mrs. Mendbayar is 62 years old and lives with her husband in a small house in Ulaanbaatar, Mongolia. Her husband is a cutter at a private company. When she was a sewing master at a company for seven years, she acquired experience in the bed linen and ger-coverings production business. She is planning to start her business at home. She will sew chifforobes and blankets. She requested a 3,000,000 MNT loan to purchase fabric and two sewing machines to start her business. She is a hardworking and honest woman.

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
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,200 helped Mendbayar to purchase fabric and two sewing machines to start her business.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Aug 16, 2012
Sep 7, 2012
Currency Exchange Loss:
Oct 17, 2014