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Ganchimeg
Mrs. Ganchimeg is 37 years old lives with her husband and 2 children in a ger in the Baganuur district of Ulaanbaatar, Mongolia. Her husband Sundui, age 42, works at a local company as a repairman. Her daughter Myagmarjargal, age 16 and Tuvshintulga, age 12 go to the local school. Ganchimeg has been working as a saleswoman in other people's grocery stores for 7 years and now she is planning to start her own grocery store in a rental space. She is now requesting a 3'500'000MNT loan to purchase starting inventory and equipment for her new grocery store. She is a hardworking, welcoming and friendly woman.

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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,525 helped Ganchimeg to purchase starting inventory and equipment for her new grocery store.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 19, 2012
Listed
Jan 18, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 1, 2013