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Mrs. Myagmar is 51 years old and the female at the head of her family. She lives with her brother in a house in Sainshand, in the Dornogobi province of Mongolia. Her brother, Chultemdorj, manufactures metal products such as fences, stoves, etc,. Her daughter, Davaasuren, has moved out and works as a teacher at a local school. Myagmar has been running a clothing retail stall for years and her business is currently in critical condition because of a lack of working capital. She is now requesting a loan of 1,200,000 MNT to import clothes from China to sell at her rental counter at the local market. She is a diligent and hardworking 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Myagmar to import clothes from China to sell at her rental counter at the local market.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 31, 2012
Nov 25, 2012
Currency Exchange Loss:
May 22, 2013