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Lodoi
Mr Lodoi is 31 years old and lives with his wife and two daughters in a ger (Mongolian yurt) in the Govi-Altai province of Mongolia. His wife Myagmarjargal, 31, who just gave birth to their second daughter, stays home to care for their children.



Lodoi has been running a business transporting goods back and forth between the provincial center and the Chinese border, importing rice, flour and other groceries. Having thus established an extensive network, he is now starting his own grocery store near his home, well-located near schools and without competition within the area. A hardworking and honest man, Lodoi is requesting a 2,000,000MNT loan to purchase inventory for his new grocery store.

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
  • $15,364,275
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Lodoi to purchase inventory for his new grocery store business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 12, 2012
Listed
Nov 11, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2013