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Davaasuren
Davaasuren, 47, lives with her husband and son in a small house in Selenge Province, Mongolia. Her husband Erdenechimeg, 51, works at a local administration office as driver. Her son Mongon, 20, is a university student. The borrower has been running sold clothes at a rental counter in a local market since 2005. She has paid for 2 of her children's tuition fees and they both have graduated their universities and moved out of their parents' house. She is now requesting 2,000,000 MNT to purchase insulation material to insulate her house against Mongolia's harsh winters. She is a hardworking and responsible woman.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,367,100
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Davaasuren to purchase insulation material to insulate her house against Mongolia's harsh winters.
96% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 24, 2012
Listed
Jan 23, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013