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Mr. Tserensevjid is 25 years old and lives with his wife and daughter in a ger in Govi-Altai province of Mongolia. His wife, Tserenlham, aged 25, is a university student. His daughter Enhjin, aged 2, goes to the local kindergarten. The borrower's parents have been running a cobbler business for years and the borrower used to help them to run their business.

Since he got married to his wife, he lives separately from his parents. So he is now planning to start his own business, providing cobbler services at home. He is now requesting 1,200,000 MNT to purchase starting inventory and tools for his newly started business. He is well-experienced, hardworking and an enthusiastic young man.

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
  • 1,377.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Tserensevjid to purchase starting inventory and tools for his newly started business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 31, 2012
Jan 30, 2013
Currency Exchange Loss:
Aug 17, 2014