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Darisuren
Darisuren is a 57-year-old widow who lives with her mother and her son in a house in Arkhangai Province, Mongolia. Her mother is a pensioner and requires constant care. Her son, Lhagvasuren, aged 22, studies at university and helps her to take care of her mother.

Darisuren has been working as a tailor in a private tailoring company for over 10 years and has gained a lot of experience. She has been tailoring some of her relatives' clothes in her free time. Now Darisuren is planning to establish her tailoring business in her spare room as she needs to stay near her mother. She is requesting a loan of 1,500,000 MNT to purchase a new sewing machine and inventory for her business. She is a diligent, hard-working 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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,100 helped Darisuren to purchase a new sewing machine and inventory for her new tailoring business.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 25, 2012
Listed
Nov 22, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014