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Mrs. Urgats is 52 years old and lives with her daughter and son, in a house in Songinohairhan district of Ulaanbaatar, Mongolia. Her son, Battsolmon, age 24, graduated from university this June and stays home looking for a job now. Her daughter, Batchimeg, age 21, is a university student.

Urgats has been working as a tailor for a private tailoring company for 15 years. Now she is planning to start her own business at home, in the spare room of her house. She is requesting 3,000,000MNT to purchase equipment and inventory, to start her new business of tailoring. She is an honest and diligent 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
  • 7
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Urgats to purchase equipment and inventory, to start her new business of tailoring.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 28, 2012
Nov 26, 2012
Currency Exchange Loss:
Sep 17, 2014