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Amgalan A., a 43-year-old married mother of one son attending elementary school, lives with her family in a "ger" (a nomadic Mongolian tent) in Ulaanbaatar, the capital city of Mongolia. In 2004, after having worked for a tailoring company for 16 years, she and her husband Tugsbileg started a family tailoring business, beginning with one sewing machine and 300,000 tugrugs ($1.00 USD=1450 MNT) in working capital. Amgalan gained many repeat clients in a short period of time because of her quality work, and as the number of her clients increased, she hired a tailor and bought another sewing machine. Her business capital has increased to 1,200,000 tugrugs, and average monthly income has reached 750,000 tugrugs.

With this loan, Amgalan will buy a cloth-cutting machine. Her dream is to help her son attain a quality education and be a good person.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,427.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $425 helped Amgalan to buy a cloth-cutting machine.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Apr 10, 2009
Apr 21, 2009
Currency Exchange Loss:
Jul 15, 2009