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Bolormaa
Ms. Bolormaa is a 37-year-old who lives with her mother and daughter in a small house in the Bayanzurkh district of Ulaanbaatar. She has been operating a grocery store since 2008. She has a lot of experience in this business and has many customers. Her mother is retired.

She borrowed a 2,000,000 MNT (Mongolian tugriks) loan from the XacBank branch and repaid the loan according to the installment plan responsibly. Her mother said, "Her business has just stabilized and it is a first step to make our lives stable and better."

Her house where she, her mother and daughter live has a broken rooftop and snow and rain come in the house from the broken roof. She is requesting 4,000,000 MNT to repair the broken roof in order to stay warm during the harsh Mongolian winter. Her standard of living is normal.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $2,175
    Average annual income
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,382.4
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,900 helped Bolormaa to repair her broken roof in order to stay warm during the harsh Mongolian winter.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 9, 2012
Listed
Oct 23, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014