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Mrs. Myagmarsuren is 42 years old and lives in a private house. Her husband runs a transportation business. They have two daughters who are students of the secondary school.

Mrs. Myagmarsuren has rented some apartments of her private house for three years. Now she is starting a grocery-products trading business. She decided to build a small grocery store near her house. Therefore, it is possible to increase the sales and improve her business.

She requests a 3,000,000 Mongolian tugriks (MNT) loan for it. She is a sanguine woman.

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
  • 1,355.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,225 helped Myagmarsuren to start her new grocery-trading business to build a small grocery store.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 10, 2012
Aug 19, 2012
Currency Exchange Loss:
May 17, 2013