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Myagmarsuren

Update on Myagmarsuren

Myagmarsuren is a 57-year-old widow who lives in an apartment in the Arkhangai province of Mongolia. Her children are grown and live on their own. She went into the business of selling dairy products in 2000 and now runs a stable business. She is planning to go into the business of selling dairy products wholesale, and wants to accumulate enough stock to sell her products when prices are high. She is a very optimistic and hard-working woman who is requesting a loan for MNT 1,500,000 to buy more dairy products to sell to her customers.

Previous Loan Details

Myagmarsuren is 56 years old and lives with her daughter in a ger, a Mongolian yurt in the Arhangai province of Mongolia. The elder two kids are employed and live separately. The younger one is a college student. She started her dairy retail business in 2000 by renting a counter in a local market... More from Myagmarsuren's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,366,300
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,100 helped Myagmarsuren to buy more dairy products to sell to her customers.
99% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 21, 2012
Listed
Oct 16, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013
This photo was used before for a previous loan for Myagmarsuren. It was first posted on Kiva on Oct, 2011. Learn More