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Tsedev N. is 38 years old and lives with his wife and two children in their own ger (the traditional housing tent) in Hovd province, western Mongolia. He and his family have been living in Hovd for over three years.

Tsedev and his wife, Bertsetseg, manage a clothing trading business at the local market in their town. They started their business in 2007 and since then they have gained much progress with it. Their earnings have enabled them to buy a new container at the local market from which they sell the clothing.

For the future, Tsedev hopes to use his experience to operate his own clothing store. He wants to sell a wider variety of clothes to meet all of his customers needs. He is requesting a 3,500,000 MNT loan to purchase more clothes to sell at retail prices.

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
  • 1,357.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,600 helped Tsedev to purchase more clothes to sell.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Jul 16, 2010
Jul 29, 2010
Currency Exchange Loss:
Aug 16, 2011