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Mrs. Zolzaya is 28 years old and lives with her husband and their two children in Ger, which is in the Suhbaatar district of Ulaanbaatar, Mongolia. Her husband works for a private company as a driver. Her son, Norovbadam, is eight years old and attends a primary school, while her daughter, Azjargal, is a one-year-old who stays at home.

Since 2005, she has been working for her sister at the rental counter of a local market. She explains that she is a hardworking and optimistic person.

She is now planning to start her own retail clothing business in the same market. As a result, she is requesting a loan in the amount of 1,800,000 MNT to purchase some initial inventory for her retail business.

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
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,459,050
    Funds lent in using Kiva
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,325 helped Zolzaya to start a retail business by purchasing clothing inventory.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Nov 27, 2012
Dec 27, 2012
Currency Exchange Loss:
Oct 17, 2013