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Henmedeh
Mrs.Henmedekh is 45 yrs old man who lives with his wife and three children in small house in Orhon province, Mongolia. His wife helps his business. His daughter, Bayarmaa, is 16 years old, his oldest son, Bayarjargal, is 14 years old, and his younger son, Buyanjargal, is 3 years old. His oldest children, Bayarmaa and Bayarjargal, are secondary school students.

He has been working at clothes selling rental counter of a shopping center as assistant salesperson since 2005. He has gained a lot of experience and built close relationships with customers. He is now starting his own clothes shop at a rental counter in that shopping center. He is a hardworking and cheerful person. He is asking for 2,500,000 MNT to cover rental fee and to purchase clothes and other goods to resell at his counter in retail price.

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

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,366,300
    Funds lent in using Kiva
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Henmedeh to cover rental fee and to purchase clothes and other goods to resell at his counter in retail price.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 5, 2012
Listed
Oct 25, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2013