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Nyamaa
Mr. Nyamaa is 28 years old. He lives with his wife and three children in a Ger (Mongolian housing tent) in the Bayanhoshuu district of Ulaanbaatar, Mongolia. His wife, Tsugjargal, has given birth to their younger son, Bayanmonh, age 1, and stays home taking care of the newborn baby. His daughter, Enhbolor, age 7, goes to a local school, and son, Erhembayar, age 5, goes to a local kindergarten.

He has been selling running shoes from a rental counter of a local market since 2009. His wife is planning to start her own business of a butcher shop at a rental counter of a local market since they are having a newborn baby and the family expenses increased a lot.

He is now requesting 2,000,000 MNT (Mongolian tugriks) to purchase starting inventory for his wife's newly starting butcher shop business. He and his wife both are hardworking, optimistic and welcoming people.

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
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Nyamaa to purchase starting inventory for his wife's newly started butcher shop business.
94% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 21, 2012
Listed
Jan 19, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014