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Gerelmaa is 47 years old and lives with her husband and son in a ger (traditional Mongolian hut) in Uvurhangai province, Mongolia. Her husband is a cab driver and her son is a college student. She started her flour and rice selling business in 2000. Now that her son joined a college, she bought another stall to run the business. However, her supply is not large enough to run the business and therefore she is requesting loan of MNT 2,500,000 to buy more flour and rice at whole sale prices. She is a sharp and hardworking woman who says, "My son is the first one to go to the college in my entire family. I will do everything I can to support him."

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
  • 1,290.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,950 helped Gerelmaa to buy more flour and rice at whole sale prices.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 17, 2011
Nov 23, 2011
Currency Exchange Loss:
Nov 15, 2012