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Nergui
Nergui, 32, lives with her husband and three children in a small house that she owns in the Baganuur district of Ulaanbaatar, Mongolia's capital. Two of her children are in secondary school, while her youngest is in kindergarten. Her husband works for a mining company. Her brother-in-law operates a cell phone business and she works for him while planning to open her own cell phone sales and repair center. She is well known among locals for her quality work, and is committed to open her own business and someday have many customers. She is a hardworking and outgoing person, and says that "my children's education is very important. I have to work for their future." She is requesting a loan for MNT 1,250,000 to buy cell phones to sell to her customers.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,334.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $950 helped Nergui to buy cell phones to sell to her customers.
94% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 22, 2012
Listed
Jun 28, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014