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Mrs. Baasanhuu is 44 years old and lives with her husband and 2 children in a small house in Arkhangai Province, Mongolia. Her husband, Osohbayar, age 50, is an interior designer and works part-time at a private construction company. Her son, Altanshagai, age 21, works with his father as an interior designer, and her daughter, Altanchimeg, age 16, studies at a specialized training school. She has been working at a local pharmacy since 2006. She has obtained a lot of experience within the industry, and now she is planning to start her own pharmacy business selling natural medicine within the local area. She is planning to expand her business in order to improve her living situation and is now requesting 3,000,000 MNT to purchase starting inventory and to cover her first month's rental fee. She is a hardworking, helpful, and diligent women.

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
  • 1,399.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,150 helped Baasanhuu to purchase starting inventory and cover her first month's rental fee.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 22, 2012
Dec 13, 2012
Currency Exchange Loss:
Jun 23, 2013