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Munhjargal
Munhjargal is 33 years old and lives with her husband and children in an apartment in Hovd, Mongolia. Her husband, whose name is Tulga, is 34 years old and works for a customs company as a driver. Her older children go to the secondary school and her younger children go to kindergarten. Before Munhjargal was unemployed and stayed at home, but recently she started her own retail clothing business; however, she lacks working capital. Therefore, she is requesting a 2,000,000 MNT loan to purchase inventory for her clothing business. She expects this business will be a major improvement on her family's living situation. She is a diligent woman with a good attitude.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,475 helped Munhjargal to purchase inventory for her clothing business.
94% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 3, 2012
Listed
Sep 5, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013