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Bazarsad
Bazarsad is 69 years old and lives with her son in a Ger in Har Horum in Dornogovi province of Mongolia. Her son has just graduated from university and plans to open an auto parts retail store.

Bazarsad has been operating a small general store near her home since 2003. She is well-known in the area and she is now requesting 3,000,000 MNT to purchase auto spare parts for her son's newly started business. Bazarsad is a hardworking and responsible woman who says, "I will help my son to start his own business and mentor him on how to run his business in the area."

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Bazarsad to purchase auto spare parts for her son's newly started auto parts retail store.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 7, 2012
Listed
Nov 21, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014