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Odonchimeg
Mrs. Odonchimeg is a 29-year-old woman living with her husband and two children in a small house in the Selenge province of Mongolia. Her husband works at a rental counter in the local market. She is starting a grocery store business now. She found a place to rent that is a top location for a grocery store. She has estimated her approximate monthly income. It will be enough for family use and she is planning to save the excess income for their daughters' future education costs. She needs a 3,800,000 MNT loan to purchase inventory for her newly starting grocery store business. She is a hardworking, open-minded and friendly woman whose dream is to educate her daughters at good universities and let them be better people.

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,379.3
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,775 helped Odonchimeg to purchase inventory for her grocery store.
97% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 18, 2012
Listed
Nov 5, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2013