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Ganchimeg is 47 years-old and lives with her two sons in a house in Songinohairhan district of Ulaanbaatar, a capital of Mongolia. One son is in college and the other one is in secondary school. She started her sewing business in 2005 by renting a small space in the local market. She is has many regular customers and she is known for the quality of the service. She is a hardworking and diligent woman who says"I want to continue my business until my sons graduate a college and are able to support themselves." She is requesting a 2,000,000 MNT to purchase construction supplies to repair her house.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,575 helped Ganchimeg to purchase construction supplies.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 21, 2011
Oct 15, 2011
Currency Exchange Loss:
Apr 17, 2012