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Legjiimaa

Update on Legjiimaa

Legjiimaa is 39 years old. She lives with her husband and four children in small house in Selenge Province, Mongolia. She is a responsible and hardworking woman.

Legjiimaa has been running her clothing retail business since 1992. She recently expanded her business into confectionery. She has suppliers and has already built a strong customer base. Her husband, Naranbulag, helps her run the business and works part-time when she goes to China to purchase clothes to import to Mongolia. Her eldest daughter, Zadgaitsagaan, 20, attends university. Her other children, Narangarav, 16, Urangoo, 14, and Naranbaatar, 12, are secondary school students.

She is requesting 2,500,000 MNT to pay for her eldest daughter's university tuition and other expenses.

Previous Loan Details

Legjiimaa is 39 years old and lives with her husband and four children in a ger (Mongolian yurt) in Selenge Province, Mongolia. Her husband helps with her business, her older daughter is a university student, and the other children attend a local school. Legjiimaa started her grocery product… More from Legjiimaa's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,800 helped Legjiimaa to pay for her eldest daughter's university tuition and other expenses.
93% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 30, 2012
Listed
Dec 17, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2013