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Mrs. Gerelt-Od is 35 years old and a widow who lives with her two daughters and a son in a ger, traditional nomadic tent, in the Arkhangai province of Mongolia. She started a retail business with her husband years ago and after her husband passed away, she closed her business for a while. She is now planning to restart her retail business and purchase inventory from Ulaanbaatar, the capital city, to sell to countryside customers. She is a hardworking and diligent woman who is requesting loan of 1,500,000 MNT to purchase large amount of inventory to sell to local customers.

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
  • 1,489.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,025 helped Gerelt-Od to purchase a large amount of inventory to sell to local customers.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jul 18, 2013
Aug 4, 2013
Currency Exchange Loss:
Feb 17, 2014