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Munhjav

Update on Munhjav

Mrs. Munhjav is 38 years old and lives with her husband and three children in an apartment in Hovd province of Mongolia. Her husband Manan used to run a transportation service and now runs a small brick production and sales business. Her daughters Nyamzaya, age 19, and Myagmarzaya, age 17, study at university and her son Myagmartsooj, age 13 goes to local school.

Mrs. Munhjav has been running clothing sales in a local market for years and she is well-experienced and has built strong relationships with her customers and suppliers. She is now requesting 5,000,000 MNT to pay her twp daughters' university tuition fees and other school-related costs. She is hardworking and an honest person.

Previous Loan Details

Munhjav G. is 38 years old and lives with her husband and four children in Hovd province, western Mongolia. The family lives in a ger, the traditional Mongolian nomadic housing tent. Munhjav currently operates a clothing trade business in her town to support her family. She started her business in… More from Munhjav'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
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,625 helped Munhjav to pay her two daughters' university tuition fees and other school-related costs.
98% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 18, 2012
Listed
Jan 17, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013