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S. Lhagvasuren started a woolen and knitted-goods production business in January 2009 with two other people, producing small souvenirs. For now, they are running the business in the Service Center, but in the future they would like to purchase equipment and expand this business.

Lhagvasuren lives in Uvurkhangai province with three children: one son is serving in the army; one is a herder in the countryside, and her daughter goes to school. A healthy and diligent worker and good communicator with the ability to expand her business, Lhagvasuren is requesting 1,500,000 tugrugs (approx. $1040 USD) to purchase a knitting machine for 800,000 tugrugs and raw materials for 700,000 tugrugs. She would like to have her own workplace in the 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,411.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,075 helped Lhagvasuren to purchase a knitting machine.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 27, 2009
Sep 18, 2009
Currency Exchange Loss:
Sep 15, 2011