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Ganchimeg is a 34-year-old woman. She lives with her husband and two children in Ger in Darhan province, Mongolia. Her husband Lhagvasuren stays home to take care of their 2-year-old daughter Erhsaran. Her son Temuulen, 7, goes to a local primary school. Ganchimeg graduated from a university and started a retail clothing business in the local market. She stopped her business activities after giving birth to her son. Unfortunately, Ganchimeg's husband has an allergy, which prevented him from continuing to work at his old job. As a result of his health problem, he has been unable to get a new job for some time.

Ganchimeg requests 6,000,000 MNT to relaunch her old retail clothing business in the local market. She has a broad network of suppliers and former customers. She is a hardworking, optimistic, and diligent woman.

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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,325 helped Ganchimeg to relaunch her old retail clothing business in the local market.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 25, 2012
Dec 24, 2012
Currency Exchange Loss:
Sep 17, 2013