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Mrs. Bolor-Erdene is 24 years old and lives with her husband and two children in a rented apartment in the northern province of Mongolia. Her husband works as a driver for the state railway station. Her daughter is six years old and goes to the secondary school, while her son is three years old and goes to the kindergarten.

Mrs. Bolor-Erdene has worked as an assistant for a trade business of her friend's since 2006. Now she is starting to run her own trading business. She imports retail goods from China and sells to a small Russian town closer to the border. She requests a 1,000,000 MNT loan to purchase more seasonal products in order to increase her profits and expand her business further. Her next goal is to build her own house.

She is an open-minded and welcoming person.

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
  • 1,390.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Bolor-Erdene to purchase more seasonal products to increase her profits in her trading business.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Oct 2, 2012
Oct 14, 2012
Currency Exchange Loss:
Oct 17, 2013