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Lhagvasuren is 36 years old and lives with her husband and two sons in a ger (Mongolian yurt) in the Sansar area of Ulaanbaatar city. Her older son, age 11, goes to a secondary school while her younger son, age 4, is in kindergarten. She manages a hair salon at a rented apartment in Ulaanbaatar city, the capital of Mongolia. She started her business in 2006 and has gained much experience. Now she has many regular customers. She is a kind woman who says, "I want to have my own apartment for my business." She is requesting a 2,000,000 MNT loan to purchase construction equipment to repair and expand her beauty salon.

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
  • 1,258.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Lhagvasuren to purchase construction equipment to repair her salon.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 17, 2011
Jul 11, 2011
Currency Exchange Loss:
Jul 17, 2013