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Erdenechimeg
Erdenechimeg, 46, is a single mother. She lives with her 2 sons in ger in Bayanhongor Province, Mongolia. Her son Mongon-Orgil, 23, works at the fire department as firefighter and her younger son Mongonbagana, 21, is a sophomore at university. The borrower has been working as tailor in a local private company since 1997. She is now planning to start her own tailoring business at home. Therefore, she is now requesting 1.500,000 MNT to purchase an initial inventory for her newly started tailoring business. She is a hardworking, honest and modest 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
  • 0
    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 $1,100 helped Erdenechimeg to purchase an initial inventory for her newly started tailoring business.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 24, 2012
Listed
Jan 23, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014