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Basan
Basan is 29 years old and lives with her husband and her two children in a ger, a Mongolian yurt, in Uvs province of Mongolia. Her family lives in her mother's yard. Her husband's name is Oyungerel, and he works for a private company as a salesperson. Her older son goes to secondary school, and her younger son stays at home.

She conducted a constructive service business from 2000 through 2012. Her husband wants to start his own business, but he lacks working capital. He needs MNT 3,500,000 to purchase goods for his grocery foods trade business and containers to sell his products.

Basan is a diligent and calm woman. She said, "My husband's business efficiency and profit will improve our life." She and her husband have a goal of building their own house.

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
  • 17
    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 $2,525 helped Basan to buy goods for a grocery foods business and containers to start a new business.
88% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 13, 2012
Listed
Sep 30, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014