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Aldarmonh
Aldarmonh is 27 years old and lives with his wife and son in a ger in Hentii province of Mongolia. His wife Enhzaya works as a saleswoman in a local market. His son Monh-Ermuun goes to a local kindergarten. Aldarmonh attended a mobile phone repair course in 2008 and worked in a mobile phone repair center until now. He has gained a lot of experience and customers over the years. He is now starting his own business of mobile phone repair and sales at a rental counter of a local market. He is now requesting 1,350,000 MNT to purchase starting inventory and equipment for his newly starting business. He is a hardworking and responsible man.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $975 helped Aldarmonh to purchase starting inventory and equipment for his newly starting business.
100% repaid
Repayment Term
11 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 20, 2012
Listed
Jan 13, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 4, 2013