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Dumaa B. is 56 years old and lives with her husband and three sons in Kharkorin, the capital city of the ancient Mongolian empire. Her sons are all well educated, with the youngest currently attending university and the older two having already graduated. Her older sons currently work in Ulaanbaatar, Mongolia's capital city, as engineers.

Dumaa has been operating a felt production business in Kharkhorin since 2002. She produces a variety of felt products, such as slippers, bags, jackets, etc. She has improved her skills and gained much experience since starting, and her business has grown as 2-3 other producers have joined her.

Dumaa used profits from her business to build her family a warm and cozy winter home. Her future business goals are to introduce her handicraft products to as many customers as possible throughout her community and also target the many foreign people that visit during the tourist season. She is requesting an 840,000 tugrug (approx. $580 USD) loan to purchase wool-processing equipment, which is essential for her to improve her product's quality and make her production process more efficient.

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
  • 1,445.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Dumaa to purchase wool-processing equipment.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Jul 29, 2009
Aug 20, 2009
Currency Exchange Loss:
Sep 15, 2010