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Tuya is 51 years old and lives with her husband, daughter and granddaughter in an apartment in Mongolia's Govi-Altai province. Her husband Batsuh, 55, stays home taking care of their granddaughter Indranil, who is 2. Her daughter, Sainzaya, is 24 years old and has just graduated from a hair-dressing course. Now, Sainzaya is starting her own barbershop business in her mother's barbershop and needs to purchase a chair and other necessary equipment to start her business. Tuya is now requesting loan of 3500000 MNT to purchase her daughter a hair-dressing chair and other equipment and tools. Her family has warm, friendly and hardworking people.

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
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,525 helped Tuya to purchase her daughter a hair dressing chair and other equipment and tools.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Nov 5, 2012
Nov 26, 2012
Currency Exchange Loss:
Nov 17, 2014