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T. is 29 years old and lives with her husband and two young sons in Kharhorin, the ancient Mongolian capital city. Her husband is currently unemployed and stays home with the two boys. T. operates a clothing retail business at a local market. She began her business in 2005 after working as a herder with her husband for several years. Her business has been quite successful and has allowed the family to buy land and build a house on it. She hopes to keep growing her business so that she can provide for her family in the future and improve their quality of life. T. is requesting a 2,500,000 tugrug loan in order to import clothes from China for her business.

XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

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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
  • 1,424.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Tsendjav to import clothes from China for her business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Oct 23, 2009
Nov 12, 2009
Currency Exchange Loss:
Apr 15, 2010