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Gerelchimeg S. is 43 years old and lives with her husband and two sons in the Huvsgul province of Mongolia. She and her family live in a ger, a traditional Mongolian nomadic tent. Her oldest son, age 22, is a university student and her youngest son, age 17, currently attends a local high school.

Gerelchimeg and her husband operate a raw-materials trading business in a small wooden pavilion. They began the business in 2004 and have gained experience as traders. In the future, Gerelchimeg plans to upgrade her workplace by trading the pavilion for a large container with capacity for 20 tons. Her business earnings have allowed her to pay her son's tuition fees. Gerelchimeg is a modest and hardworking person, who is seeking to increase her working capital. She has requested a 1,500,000 MNT loan for her trading business.

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
  • 1,283.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Gerelchimeg to buy more raw materials to sell.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 28, 2010
Oct 28, 2010
Currency Exchange Loss:
Mar 24, 2011