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Nyamsaihan
Nyamsaihan is 50 years old and lives with her husband and four children in a ger (Mongolian yurt) in Suhbaatar province, Mongolia. Her husband helps with her business; her elder child is a college student; and the rest are all school students.

Nyamsaihan repairs roads in her free time. She gained this experience from her parents, and she was repaid for front road work for her neighbor's house. Now she would like to start a road repairing business officially. She just got officially licensed to repair squares and roads. She already hired someone who is skilled for the work and to run her business successfully, she needs some construction raw materials and tools. She's requesting 2,000,000 Mongolian tugriks (MNT) to purchase sand, gravel and some road-repair tools.

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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,317.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Nyamsaihan to purchase sand, gravel and some road repair tools.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 5, 2012
Listed
Jun 16, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2013