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Erdenetungalag is 42 years and lives with her family in Arhangai province, Mongolia. She has a son and three daughters, ages 16 to 22. They all live together in a traditional Mongolian housing tent, called a ger. Her oldest son, Purevdaavuu studies at a religious institution in India and her three younger daughters all attend a local secondary school. During the day, Erdentungalag operates a carpentry business with the help of her husband. She started her business in 2005 with working capital of 100,000 tugrugs, and has successfully expanded her business over the years. Today her working capital exceeds 1,000,000 tugrugs. In addition to her carpentry business, Erdenetungalag also operated a sausage manufacturing business between 2008 and early 2010. However, with the growing success of their carpentry business she and her husband have decided to focus on one business. Erdenbileg has used her earnings to support her family's expenses and children's tuition fees. She says that being reliable has helped her most to expand her business. She is requesting a 500,000 tugrug loan to purchase paint for her carpentry business.

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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
  • 1,368.6
    Mongolia Tugriks (MNT) = $1 USD