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Jargalsaihan
Jargalsaihan S. is a 65-year-old single father and currently resides with his son in Arhangai province, one of Mongolia's central provinces. His son is 20-year-old and helps in his father's business. Jargalsaihan rents a small stall in the local food market and sells various cut meat, including mutton, beef and goat meats in small pieces for locals. He usually purchases livestock, such as cattle, sheep and goats when price of livestock is low and sells them when meat price peaks during a year. Since the start in 2006, he has been quite successful with his business; his business capital has increased from 100,000 MNT to 600,000 MNT ($1 USD = 1,450 MNT). He says that he would like to expand his business as capital allows. Further, he would like to put aside some money for his son's future wedding, which he is very much looking forward to.
He requests a loan to purchase more livestock for her meat retail business.

Additional Information

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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,440.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $575 helped Jargalsaihan to purchase more livestock for her meat retail business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 18, 2009
Listed
Aug 20, 2009
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2010