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Davaahuu

Update on Davaahuu

Davaahuu is a 47-year-old widow who lives with her daughter in a ger (a traditional nomadic yurt) in the Hovd province of Mongolia. Her daughter, Haliunaa, is 16 years old and goes to the local secondary school.

She has been operating various kinds of businesses for years. She is well known among both customers and other businesses within the area. She has started providing taxi services within the area and also works as a retailer of pelts and hides in the local market.

She is now requesting 4,000,000 MNT to purchase a large amount of livestock hides and supply them to a local manufacturer in order to increase her income. She is a hardworking and diligent woman who says, "My daughter is going to enter university very soon and I need to save for her education expense."

Previous Loan Details

Davaahuu is a widowed woman who lives with her 16-year-old daughter in the Hovd province of Western Mongolia. She has been running a livestock hides retailing business since 1988. She has become experienced in this field and would like to improve her business activities. The income from t... More from Davaahuu's previous loan »

Additional Information

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $2,175
    Average annual income
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,875 helped Davaahuu to purchase a large amount of livestock hides and supply them to a local manufacturer in order to increase her income.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 16, 2012
Listed
Dec 16, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014