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Dorjhand S. is 37 years old and lives with her husband and two children in a house in Bayanzurkh district in Ulaanbaatar, the largest city and capital of Mongolia. Her son and daughter both attend a local secondary school. Dorjhand operates a construction materials business with the help of her husband in their district. She started selling construction materials in 2007 and has quickly found success with her new business. She has gained much experience as a businesswoman and has built a good reputation among both her customers and suppliers. The business is very important for her family and has provided them with financial security. She says, "With my business earnings I can support my children's education and I am happy for that."

S. is optimistic about the future and hopes to soon expand her business, her dream being to own her own workplace in the future. She is requesting a 3,500,000 tugrug (~2500 USD) loan to purchase construction materials for her business and to remodel her house.

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
  • 1,448.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,425 helped Dorjhand to purchase construction materials for her business and to remodel her house.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 5, 2009
Nov 26, 2009
Currency Exchange Loss:
Aug 15, 2010