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Dorjderem
Dorjderem is 31 years old who lives with his wife and 2 daughters in small house, in Arhangai province, Mongolia.

He and his wife are cooks. Dorjderem has worked in a cafe since 2007. Him and his wife have been operating their own cafe since May of this year. His business is continuing normally. They have one employee at a cafe.

He is requesting 4,000,000 MNT to buy new equipments and additional tables and chairs for cafe. They want to open their own restaurant. He is a very communicative person.

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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 15
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,395.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,875 helped Dorjderem to buy new equipments and additional tables and chairs for cafe.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 13, 2012
Listed
Sep 30, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014