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Tsermaa is 30 years old lives with her husband and two children in a house in Hentii province of Mongolia. Her husband Bolorchuluun works at a local private construction company as an assistant worker. Her daughter Uurintuya, age 10, goes to local school and son Bumbayar, age 3, is ready to start kindergarten. Tsermaa had stayed home till her son was old enough to go to kindergarten. She is planning to fix his husband's car to start providing taxi service in town. She has been driving a car for years and she knows the town very well. She is now requesting 3,000,000MNT to purchase spare parts and tires to fix her husband's car to start her taxi service business. She is a hardworking, modest and positive person.

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Tsermaa to purchase spare parts and tires to fix her husband's car to start her taxi service business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Dec 11, 2012
Jan 9, 2013
Currency Exchange Loss:
Jun 27, 2013