A loan of $2,125 helped to purchase two shoe-making machines and leather.

Zonorov's story

B. operates a small boot-making shop in her town with the help of her husband. She worked in a shoe factory for five years and gained much experience and skill in her trade. She specializes in making warm winter boots for herders, so the winter season is especially busy for her. B. started her boot-making business in 2005 and has managed it successfully over the years. She is a very hardworking and open-minded businesswoman and always looks for ways to grow and expand her business. Her success has enabled her to build a house for her family and improve their quality of life.

Zonorov B. is 33 years old and lives with her husband and four children in Hovd province in western Mongolia. Her oldest daughter and son, ages 11 and 9, currently attend a local secondary school. Her youngest two sons are both in kindergarten.

B. has many plans for the future. She hopes to soon expand her production line by producing summer work and dress shoes. She hopes diversifying her products will increase her overall sales and stabilize her income throughout the year. As demand continues to increase for her boots, B. needs to expand her production capacity and purchase new machinery. She hopes that one day she will be able to provide quality boots to customers throughout her province. B. is requesting a 3,000,000 tugrug loan to purchase two shoe-making machines and different types of leather for her shoe-making 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.

To get regular updates from XacBank, please join our lending team.

To lend to more Mongolian borrowers, please click here.

Loan details

Lenders and lending teams

Loan details