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Bolor-Erdene, 32 years old, lives with her husband and her daughter in a small house in Suhbaatar district of Ulaanbaatar city. Her husband`s name is Gantur, age 32, and he works in the private sector. Her daughter`s name is Egshiglen, age two, and she stays at home. From 2000 to 2005, Bolor-Erdene worked in Mongolia's biggest cashmere factory as a knitter.

She has now decided to start up her own cashmere-producing business based on her working experience and skill, and so is requesting a 3,500,000 MNT loan to purchase new textile equipment. Because she knows many buyers, Bolor-Erdene does not need to worry about sales.

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
  • 1,340.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,625 helped Bolor-Erdene to purchase new textile equipment.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 20, 2012
Aug 7, 2012
Currency Exchange Loss:
May 17, 2013