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Baasanjav
Baasanjav is a 37 year old widow who lives with her 2 sons in a small house in the Bayanhoshuu district of Ulaanbaatar, Mongolia. Her husband passed away last year. Her two sons, Amarhuu and Anar, are 14 and 13 years old, and are secondary school students. Baasanjav has been working as a tailor for a private tailoring company since 2001. She has gained a lot of experience tailoring modern and traditional clothes on both automatic and manual machines. She is now planning to start her own tailoring business in a spare room of her house, and is requesting 2,500,000 MNT to purchase a sewing machine and inventory for her new business. She is a hardworking, diligent and responsible woman who says: "My sons are soon to be university students and I need to save for their tuition and other expenses from now on since I am the only one who works in the family."

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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,800 helped Baasanjav to purchase a sewing machine and inventory for her new tailoring business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 15, 2012
Listed
Dec 15, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 24, 2013