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Tsegmid T. is 22 years old and lives with her mother and two-year-old daughter in Bayanhongor province in central Mongolia. She lives with her family in a ger, a traditional Mongolian nomadic housing tent. With her mother's help, she operates a grocery and firewood business at a small shop in her town.

T. started her business in 2006 with capital of 200,000 MNT. She has made much progress in her first three years of operation and has built a stable business. Her earnings have enabled her to provide for her mother and daughter and improve their quality of life. Today, her working capital exceeds 500,000 MNT. T. hopes to continue to grow her business in the future and provide her daughter with a good life. She is requesting a 750,000 MNT loan to purchase grocery products and coal to sell.

About XacBank

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
  • 1,427.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Tsegmid to purchase grocery products and coal to sell.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 28, 2009
Nov 19, 2009
Currency Exchange Loss:
Dec 20, 2011