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Mrs. Erdenechimeg is 29 years old and lives with her mother in a small house in Huvsgul province, Mongolia. Her mother, Ulamnemeh, is retired and stays home. Borrower has been working as a saleswoman in the local market since 2008. She has built close relationships with both customers and suppliers over the years. Now, she is planning to start her own business of clothing retail sales, at a rental counter of the local market.

She is requesting a loan of 2,000,000 MNT to purchase starting inventory, which will come from Erlian, China. She will use the inventory to start up her clothing sales business in the local market. She is a hard-working, optimistic 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Erdenechimeg to purchase clothing from Erlian, China, for start-up inventory for her new clothing sales business in the local market.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Dec 25, 2012
Jan 24, 2013
Currency Exchange Loss:
Dec 17, 2014