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Delgermaa B. is a micro-entrepreneur who lives with her mother in Hentiy, which is one of Mongolia's southern provinces and the homeland of Chinggis Khan, the most celebrated Mongolian of all time. In 2005, together with her mother, she began to run a bread-sales business. Her mother bakes bread at home and Delgermaa sells it at her small booth in the local market.

To expand this tiny business, in 2007 Delgermaa took a loan with XacBank, Kiva's partner microfinance institution in Mongolia. With the help of the loan, she began to sell many small items, such as instant noodle soup, biscuits and cookies, at her booth. With her profit she bought a bigger oven, allowing her mother to bake more bread. The mother-daughter team now distributes some of the bread to local grocery stores. All their bread sells out every day, as the bread is very delicious. Delgermaa is locally respected for her business and for her friendly, hard-working personality.

With this loan, Delgermaa will invest in her business and buy flour. She says, in Mongolian, "I'm planning to have my own bakery in near future."

Additional Information

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
  • $15,444,050
    Funds lent in using Kiva
  • 1,581.4
    Mongolia Tugriks (MNT) = $1 USD