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Mrs.Horolmaa is 27 years old and lives with her husband and 2 daughters in a Ger, in the Bayanhoshuu district of Ulaanbaatar, Mongolia. Her husband Lhagvasuren has worked at a local company for years. Her daughters Monhzul, age 5 and Monhgerel, age 2, go to local kindergarten. Horolmaa has been staying home since she gave birth to her daughters and now she is planning to start her own business of clothing sales. She used to work at the local market as a saleswoman and she has a lot of experience in the field. She is now requesting 1'500'000MNT to purchase a starting inventory for her new clothing sales business. She is a hardworking, optimistic and kind 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 $1,100 helped Horolmaa to purchase a starting inventory for her new clothing sales business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 21, 2012
Jan 20, 2013
Currency Exchange Loss:
Jan 17, 2014