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Amarjargal
Mrs. Amarjargal is 37 years old and lives with her husband and daughter in the Sukhbaatar district of Ulaanbaatar, Mongolia. Her husband, Soronzonbold, is 35 years old and is an interior designer who works in a private construction company. Her daughter, Dolgoonmorongua, goes to kindergarten. She has been working as an assistant worker at a local market for years, and she also works part-time at the construction company her husband works at. She and her husband are planning on starting their own interior design business for local customers. She is asking for a 4,000,000 MNT loan to purchase starting inventory for her new interior design business. She and her husband are hardworking, honest, and responsible people.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,875 helped Amarjargal to purchase starting inventory for her new interior design business.
94% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 9, 2012
Listed
Nov 27, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013