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Mrs. Tserenbadam, 37 years old, is the female head of her family. She lives with her 2 children in a small house in the Ih-Toiruu area of Ulaanbaatar, Mongolia. Her daughter Olziijargal, age 14, goes to a local school and her son Olziibayar, age 5, goes to a local kindergarten. Tserenbadam moved to Ulaanbaatar after she divorced her husband; she stayed with her relative and worked at the local market for years. Tserenbadam has gained a lot of experience in clothing sales over the years and is now starting her own clothing retail business in the local market. She is requesting a loan of 3,000,000 MNT to import clothes from Erlian, China, to start her own clothing retail business. Tserenbadam is a hardworking and brave 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
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Tserenbadam to import clothes from Erlian, China, to start her own clothing retail business.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Dec 12, 2012
Jan 11, 2013
Currency Exchange Loss:
Jun 27, 2013