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Tuya
Tuya is a 44-year-old woman and the head of a household that includes her mother and her five children. They live in a Ger in the Govi-Altai province of Mongolia. Her oldest daughter, Bayarjargal, is 23 and works at a private mining company. Her second son, Bayarbayasgalan, is 20 and disabled and stays at home. Her younger three children, Buyanhishig, Sukhbat and Bazarsad, are secondary school students.

Tuya has been running a grocery store business at a rental counter in the local market for years. Unfortunately, business has been temporarily stopped for months because of a lack of working capital. She is now requesting a loan of 600,000 MNT to purchase various types of goods for her grocery store. She is a hardworking, brave, and responsible woman.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $450 helped Tuya to purchase various types of goods for her grocery store.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 16, 2012
Listed
Nov 16, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014