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Sereenen is 33 years old and lives with his wife and a daughter in small house in the Bayanhoshuu area of Ulaanbaatar city, Mongolia. His wife, Saran, is 34 and works at a local beauty saloon as a hairdresser. His daughter, Duurenzaya, is 4 and goes to the local kindergarten.

He has been working as a plumber in a local company since 2000. He also provides call service to local clients from time to time during his off-duty time.

He and some of his colleagues are starting a business to take orders from apartment residents and provide utility services. He is now requesting 5,000,000 MNT to purchase tools and equipment to start his business successfully. He is a hardworking, honest and friendly 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
  • 1,422.5
    Mongolia Tugriks (MNT) = $1 USD
A loan of $3,525 helped Sereenen to purchase tools and equipment to start his business successfully.
Repayment Term
19 months (Additional Information)
Repayment Schedule
May 29, 2013
Jul 2, 2013
Currency Exchange Loss:
Aug 1, 2013