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Ms.Tsetsegmaa is 54 years old lives with her husband and son in a small house in Arhangai province of Mongolia. Her husband, Nadmidtseren, is 59 years old, retired and stays at home. Her son, Batsuran, is 20 years old and studies at university. Tsetsegmaa worked as a tailor in a local state-owned company for years and retired. She tailors clothes at home for her relatives and friends since she retired. She is now planning to make it a business and start her own tailoring business at home. She is a hardworking and modest woman who needs a loan of 1,000,000 MNT to purchase starting inventory for her business and provide tailoring services at home.

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,419.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Tsetsegmaa to purchase starting inventory for her business and provide tailoring services at home.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Apr 27, 2013
May 28, 2013
Currency Exchange Loss:
Jul 9, 2013