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Delgertsogt
Delgertsogt, 38, lives with his wife and three children in a ger (a Mongolian yurt) in Umnugovi province, Mongolia. His son is a college student, and his two daughters are secondary school students.

Delgertsogt is a hardworking and clever man. He is planning to start a grocery store with his wife, so he built a new store building, whose location is the best place to sell food to the locals. Now, although Delgertsogt wants to sell food in his new store, he does not have enough money to buy products to sell.

His children's education is very important to him. Delgertsogt said, " I am working for my children's future. They will soon go to college together; therefore I have to prepare for their college tuition." He is requesting 2,000,000 MNT to purchase products to sell.

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
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,322.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,525 helped Delgertsogt to purchase grocery products to sell in his store.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 19, 2012
Listed
Jun 24, 2012
Currency Exchange Loss:
Possible
Ended:
Jul 17, 2013