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Uudus
Uudus, aged 43 , lives with her husband and her three sons in a small old house she owns in Ulaanbaatar city, Mongolia. Her younger son is a secondary school student. Her husband and two sons help with her business. She has been running her meat retail business in the local market for five years. Uudus already has many regular customers and suppliers. Her business is sustainable.

In the last few years, her old house has been very cold due to the heating loss through walls and windows. Therefore, Uudus has started to build her new house. The money she has saved is not enough for the new house. The loan that she is requesting will be used to build her new house with headers (beam-like supports) and vacuum (insulated) windows. Uudus is requesting a loan of 1,000,000 MNT to finish the house.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,328.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $775 helped Uudus to build her new house with headers and vacuum windows.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 2, 2012
Listed
Jul 9, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013