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Magraj
Magraj is 47 years old and the head of the family. She lives with her son in the Bayan-Ulgii province. Her son Erkinbek is 22 years old and works in a rivate company.

She has been operating a toy store since 1994. In the past few months she was sick and her business stopped temporarily, but now she is restarting her store again and importing toys from Taikeshken.

She is requesting a loan of 3.500.000 MNT to import toys for her toy store and restart her business. She is hard-working and a kind person.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,525 helped Magraj to restart her business by importing toys.
94% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 8, 2012
Listed
Nov 25, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014