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Mrs. Bolormaa is 41 years old and lives with her husband and daughter in an apartment in Han-Uul district, Mongolia. Her husband, Munhbaatar, works as an electrician in a private company. Her daughter, Bilguun, is a college student. Mrs Bolormaa has been working at a food retail business on a rental stall since 2010. She is planning to open her own food retail business and purchase her own stall instead of renting it. She is a hardworking and diligent person. She needs 2,000,000 MNT to purchase inventories to sell at retail price.

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
  • 1
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,390.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Bolormaa to purchase inventories to sell at retail price.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Oct 20, 2012
Nov 8, 2012
Currency Exchange Loss:
Nov 17, 2013