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Mrs.Sarantuya is a 59 year old widow who lives alone in her Ger in Arhangai province of Mongolia. Her children have gotten married and moved out of her house. She has been working as tailor in private tailoring company for years and gained experience in tailoring various types of clothes especially the Mongolian traditional costume known as Deel. She is now planning to operate a tailoring service at her home. She has a tailoring machine and space for her business. She has started getting orders from her friends and relatives and she needs some inventory to build her business. She is requesting 800'000MNT to purchase inventory to run her newly started business. She is a positive, friendly and hardworking 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
  • 1,389.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Sarantuya to purchase inventory to run her newly started business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Oct 21, 2012
Nov 20, 2012
Currency Exchange Loss:
Apr 16, 2014