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Bolormaa, 47, is married and lives with her husband and two children in the Uvurhangai province of Mongolia. They have a decent standard of living. Her husband is an experienced artist who started a painting and art business in 1990. He is popular in his area for his art work. Their older daughter works as a designer and their younger daughter attends college.

Bolormaa began manufacturing and selling handcrafted souvenirs in 1991. She started her business with a working capital of 300,000 MNT and now it exceeds 3,800,000 MNT. Her business operations have become more stable compared to previous years. Bolormaa is planning to introduce and export her products to external markets. She is a hardworking and polite person who says, " Never give up. Try hard and you will definitely achieve something at the end." Bolormaa is requesting a loan of 1,800,000 MNT to purchase materials for her handcraft and souvenir production 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
  • 1,245.0
    Mongolia Tugriks (MNT) = $1 USD