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Mrs.Dulamsuren is 51 years old and a widow. She lives with her son, daughter and son-in-law, in a rental apartment in the Suhbaatar district of Ulaanbaatar, Mongolia. Dulamsuren's daughter Uuriintuya, age 30, used to operate a small cafe, but she closed it after the rent was increased. Dulamsuren's son Odbayar, age 23, is a university student.

Dulamsuren is planning to start a grocery store business with her daughter, near where they live. She has found a suitable place to rent, and now she needs a loan in the amount of 2,000,000 MNT. She will use the loan to purchase starting inventory for her new grocery store. She and her children are helpful and hard-working people.

Note: Woman on the left in the picture is borrowers daughter who also be going to works together with her mother in grocery store.

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 $1,450 helped Dulamsuren to purchase starting inventory for her new grocery store business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Nov 13, 2012
Dec 13, 2012
Currency Exchange Loss:
Nov 17, 2013