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Tsend-Ayush
Mrs.Tsend-Ayush is a 54-year-old widow who lives with her 22-year-old son in a small house in the Tosontsengel province of Mongolia. Her son works at a private company. Her other son, age 24, has been sent to Sierra Leone for peace work. Tsend-Ayush has been manufacturing traditional boots for years, and she started her manufacturing business in 2010 at her home. She has a lot of experience. But her business is temporarily not running because of a lack of working capital and equipment. She has the potential to run this business normally with enough profit to cover family expenses once she gets a loan of 2,000,000 MNT to buy inventory and equipment for her temporarily stopped traditional boots manufacturing business. She is a hardworking, modest and responsible 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

  • $2,175
    Average annual income
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Tsend-Ayush to buy materials and equipment for her temporarily stopped traditional boots manufacturing business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 7, 2012
Listed
Nov 8, 2012
Currency Exchange Loss:
Possible
Ended:
May 22, 2013