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Ulaanhuu
Mr.Ulaanhuu is 24 years old and lives with his wife and two children. His wife's name is Bolortsetseg. She is 25 years old and works for a private company. His older daughter goes to kindergarten and his younger daughter stays at home.



Mr. Ulaanhuu is starting his own metal fence and doors by order business. He is requesting 1,000,000 MNT to purchase inventory and other tools to produce metal products for his business. He is a modest and diligent man. His goal is to expand his business to become a bigger producer of metal products in future. He hopes to increase his profit and save for his children's education.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,378.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $750 helped Ulaanhuu to purchase inventory and other tools to produce metal products.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 5, 2012
Listed
Oct 26, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014