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Mrs. Bolortuya is 30 years old and lives with her mother and two children in an apartment in Bulgan province, Mongolia. Her mother has retired. Her two children, Bat-Undrah and Naransolongo, are aged five. They are starting kindergarten.

Mrs. Bolortuya is starting a clothes and other products retail business on a rental counter in a shopping center this month, with her sister. She is planning to expand her new business further on and increase working capital. She is a hardworking and honest person. She is requesting 1,800,000 MNT of loan to purchase inventory and other additional products.

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
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,300 helped Bolortuya to purchase inventory and other additional products.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 14, 2012
Oct 15, 2012
Currency Exchange Loss:
May 20, 2013