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Nyamsuren
Mrs. Nyamsuren is 42 years old. She lives with her husband and her son in a Ger, in the Sainshand province of Mongolia. Her husband mines for spar and does other businesses for the family. Her son goes to secondary school.

Mrs. Nyamsuren is planning to start a grocery store from her husband’s business profits. She is a hardworking and responsible person. Before she used to sell food products at a local market, but that was a seasonal business and the profit was not sustainable. Now she is requesting 600,000 MNT to purchase inventory for her grocery business. She says: “I'm planning to expand my 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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $450 helped Nyamsuren to purchase inventory for her grocery business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 9, 2012
Listed
Oct 26, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2013