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Erdenejargal, 32, lives with her husband and two children in a ger (Mongolian yurt) in Ulaanbaatar, Mongolia. Her children are kindergarten students. Her husband operates his own private business. She just started selling clothes at the Narantuul international black market. She has many regular customers and suppliers. Her business is sustainable. She owns an old house. She wants to renovate the house and turn it into a store where she can sell clothes. The 3,000,000 MNT loan will be used to buy the necessary building materials to repair her house. She is a diligent and creative women.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 1,317.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Erdenejargal to renovate her house to sell clothes.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 8, 2012
Jun 20, 2012
Currency Exchange Loss:
Oct 17, 2013