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Mrs. Tserendulam is 51 years old and lives with her husband and son in a small house in the Suhbaatar district of Ulaanbaatar, Mongolia. Her husband Baatar, age 51, is disabled and stays at home. Her son Erdenebolor works at a local hospital in the emergency department. Tserendulam has been running a tailoring business with her partner for 12 years, and now she is starting her own tailoring business in a rental space. She has gained many regular customers over the years. Tserendulam requests a loan in the amount of 2,000,000 MNT to purchase an electric sewing machine to successfully run her own tailoring service. She is a hardworking, friendly, and responsible 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
  • 1,378.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,475 helped Tserendulam to buy an electric sewing machine.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Jan 26, 2013
Feb 26, 2013
Currency Exchange Loss:
Jul 17, 2014