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Mereke
Mereke H. is 32 years old and lives with her husband in the Bayan-Ulgii province of western Mongolia. She and her family live together in a rented house.

Mereke and her husband operate a clothing and consumer goods retail business in their town. They began their business in 2008 after moving to their current town. Within a short period, they have built a stable and successful operation and today their working capital has exceeded 1,500,000 MNT. They plan to buy and warehouse a large amount of products before the new year holiday when borders of Mongolian and China are both closed.

Mereke says, " All I want is to have our own house where my husband and I can live comfortably." She is requesting a 2,500,000 MNT loan in order to purchase more products from China in order to increase her sales.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,227.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,050 helped Mereke to purchase more products from China in order to increase her sales.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 23, 2010
Listed
Dec 10, 2010
Currency Exchange Loss:
Possible
Ended:
Mar 18, 2012