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Sanchirhorol
Mrs. Sanchirhorol is a 29-year-old woman and lives with her husband, daughter, younger brother and father, in Ger, in the Uvurhangai province of Mongolia. Her husband helps with her business.

In 2006, she graduated from the Science and Technology University of Mongolia. From 2006 to 2008, she worked at a secondary school as a teacher. In 2011, she started her grocery store business.

Now, she is planning to open a cafe at the local market. She says that her husband will help her operate her cafe. She has a relative who is a chef and is going to be the chef at her cafe. She is asking for 2,000,000 MNT to purchase equipment and to cover other expenses for her new cafe.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Sanchirhorol to purchase equipment and to cover other expenses for her new cafe.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 8, 2012
Listed
Oct 27, 2012
Currency Exchange Loss:
Possible
Ended:
Feb 15, 2013