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Monhjargal
Mrs. Monhjargal is 42 years old and lives with her husband and 2 children in Ger in the Bulgan province of Mongolia. Her husband Tushig is in South Korea working as a contract worker. Her son Temuujin, 21, is a university student, and her son Tsolmon, 15, is a secondary school student. She has been working as a saleswoman since 2001 in the local market. She also works part-time at home as a tailor. She is now planning to start her own business of clothing retail at a rental counter of the local market. She is now requesting 1,000,000 MNT to purchase clothes to start her business of clothing retail at a rental counter at the local market. She is a hardworking and friendly 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

  • $2,175
    Average annual income
  • 4
    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 $725 helped Monhjargal to purchase clothes to start her business of clothing retail at a rental counter of the local market.
97% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 27, 2012
Listed
Nov 25, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2013