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Mrs. Tsengelmaa is 42 years old and lives with her husband and her daughter in a small house in Songinohairhan district, Ulaanbaatar, the capital city of Mongolia. Her husband's name is Gansuh. He is 42 yrs old. He purchases old and broken cars, repairs and then sells them for a higher price. Her daughter goes to secondary school. She worked at a private tailoring company as an assistant for 20 years. She was laid off from work in 2010. She has been unemployed since then. She is planning to start her own business manufacturing souvenirs, slippers and key chains. She has manufactured a few by order and people really liked them. She is requesting 1,500,000 MNT to purchase inventory and machinery for her souvenir production business.

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
  • 1,378.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Tsengelmaa to purchase inventory and machinery for her souvenir production business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 2, 2012
Oct 25, 2012
Currency Exchange Loss:
Nov 17, 2014