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Mrs. Delgermaa is 45 years old and lives with her son in a rental apartment in Dornogobi province, Mongolia. Her son is a college student. She used to work in a felt manufacturing company as a felt manufacturer and now she is starting her own business of producing felt souvenirs and felt shoes, mainly handmade. She needs inventory and a machine to handle the sewing process. She needs 500,000 MNT to purchase inventory and a second-hand sewing machine for her business. She is a modest and hardworking 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,384.2
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Delgermaa to purchase inventory and a second-hand sewing machine for her new business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Oct 12, 2012
Oct 29, 2012
Currency Exchange Loss:
Nov 17, 2013