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Bayarmaa
Mrs Bayarmaa is 43 years old and lives with her mother and two children in a ger (a traditional Mongolian nomadic felt housing tent) in Suhbaatar province, Mongolia. Her two children, Batmunh and Uuganstetseg, are aged 27 and 21.

She started working as a hairdresser in a rental workplace in 1990. She is well-experienced in this business. She is a hardworking and open-minded person.

She is planning to open her own barber shop. She already has become her customers' favorite in that area. She needs financial support of 1,500,000 MNT to buy equipment and other tools to open her own hairdressing 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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,341,800
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,100 helped Bayarmaa to buy equipment and other tools to open her own hairdressing business.
98% repaid
Repayment Term
15 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
Sep 16, 2012
Listed
Oct 13, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013