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Myagmar
Myagmar, 47, lives with her husband and her two children in a small house she owns in Baganuur district, Ulaanbaatar city, Mongolia.

Her husband runs a private apartment repairs business with her son. Myagmar helps her husband with the business.

In February, 2012 she started a new business. She started to operate a clothes selling business at a rental counter. Her daughter helps with her business. Her business is sustainable and has many regular customers and suppliers.

Using her business profits, in May, 2012 she bought her own counter for selling clothes. She is well known for her high quality products. She is an open-minded and cheery woman.

In the summer, her product demand is high. Therefore she wants to extend the range of products. She is requesting 1,000,000 MNT to purchase more product items to offer.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,333.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Myagmar to purchase more product items to offer.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 19, 2012
Listed
Jun 26, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013