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Erdenechimeg
Erdenechimeg is 37 years old. She lives with her husband and son in a rental apartment in Orhon Province, Mongolia. Her husband Jargalsaihan, 41, works at local gas station as an operator. Her son Dolgoon, 5, goes to a local kindergarten. The borrower has been working as saleswoman at a local market since 2007 and has built a close relationship with other salespeople, customers and suppliers. She is now planning to open her own clothing retail business in that market. Therefore, she is now requesting 3,900,000 MNT to purchase inventory from Erlian, China for her new business. She is hardworking, clever and well-experienced in business.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,825 helped Erdenechimeg to purchase inventory from Erlian, China for her newly started clothing retail business.
98% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 11, 2012
Listed
Jan 9, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013