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Bayanmunkh
Bayanmunkh lives with her husband and two children in their small house in a peri-urban district of Ulaanbaatar city. She is 46 years old now and wants to conduct her own grocery store business. She wants to built her own workshop and her husband also will contribute to her business. She plans that the business income will pay for her children's college tuition fees. Her planned location for the grocery store is a good one.

Bayanmunkh wants to purchase construction materials in order to build a small store. She is a hardworking woman who wants to start her own business. Now she is requesting a loan of 5,000,000 MNT in order to purchase construction materials and electric heating to build a warm store.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,337.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,750 helped Bayanmunkh to purchase construction materials to build a small store.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 16, 2012
Listed
Jul 30, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 15, 2013