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Mrs.Sodgerel is 24 years old and lives with her husband and son in a small house in the Selenge province of Mongolia. Her husband Tserendorj is a police officer in the local police departmnet. Her son Temuulen, age 4 goes to a local kindergarten. Sodgerel has been working for a wholesale distribution company for the last few years and has gained a lot of experience and has built a network with suppliers and customers. She is now planning to start her own clothes retail business at a rental counter of the local market. She is now requesting 1'500'000MNT to purchase bulk orders of clothes to start her business. She is a hardworking and modest 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Sodgerel to purchase bulk orders of clothing to start her own business at the local market.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 19, 2012
Jan 18, 2013
Currency Exchange Loss:
Sep 17, 2013