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Mrs.Tsengel is 26 years old and lives with her husband and a son in an apartment in the Bayanhongor province of Mongolia. Her husband, Bathuyag, works at local state-owned organization. Her son, Telmuun, is 3 years old and just enrolled in the local kindergarten.

Tsengel has been working as a saleswoman for years and is now planning to start her own retail clothing business in the local market now that she is coming back from her maternity leave. She is requesting 3,000,000 MNT to purchase baby clothing from Beijing, China, to start her clothing business in a local market. She has years of experience and good taste in clothing choices.

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
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Tsengel to purchase baby clothing from Beijing, China, to start her clothing business in a local market.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
May 21, 2013
Jun 26, 2013
Currency Exchange Loss:
Jun 12, 2015