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Mrs.Byambaa is a 50-year-old widow who lives with her two daughters in a ger, a Mongolian yurt, in the Govi-Altai province of Mongolia. Her two daughters go to the secondary school, while Byambaa has been working as a veterinary doctor for 11 years. She also learned tailoring in Oyu-tolgoi project's tailoring course in 2011 and has been tailoring her and her daughters' clothes since then.

Byambaa is now planning to establish a tailoring business, and so is requesting a 2,000,000MNT loan to purchase equipment and inventory and pay the initial rent of her work premises. She is a hardworking and friendly woman who says, "My short-term goal is to increase my income and save money for my children's further education. They will be enrolling in university by next year."

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
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Byambaa to purchase equipment and inventory and pay the rent of her workplace premises.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Oct 9, 2012
Nov 11, 2012
Currency Exchange Loss:
Aug 17, 2014