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Tseelei is a 61-year-old widow living with her 2 children in a ger, which is a traditional nomadic yurt, in Uvs province of Mongolia. Her son, Tulga, has graduated from the local university and started a transportation service business. This year, her daughter, Todhaan, has enrolled in the university in Ulaanbaatar.

Tseelei has been working as saleswoman for years and is just now starting to rent the grocery store to provide her own business to her clients. She is a welcoming and helpful woman who pleases her clients with good food and service. She is now requesting 3,250,000 MNT to purchase a large amount of food inventory for her newly operating grocery store 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,625.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,000 helped Tseelei to purchase a large amount of food inventory for her newly operating grocery store business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Sep 8, 2013
Oct 15, 2013
Currency Exchange Loss:
Sep 4, 2014