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Tsevelhuu
Mrs Tsevelhuu is 45 years old and lives with her husband, two daughters, and son in a Mongolian yurt in Hovd province, Mongolia. Her husband, Jarantai, is 47 years old. She and her husband are invalids (impairment). Her older daughter works at a private company and her younger son and daughter are college students. Her daughter and son also work in addition to studying. Mrs Tsevelhuu is starting to make national clothes from this month at home with her husband. In the future, she is planning to expand her business operations by increasing her turnover and hiring one worker. She is a hardworking and well-behaved person. She is asking for 1 200 000 MNT to buy raw materials for her business.

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
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $875 helped Tsevelhuu to buy raw materials for her business.
98% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 21, 2012
Listed
Oct 3, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013