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Choijingarav
Mrs. Choijingarav is 39 years old. She lives with her husband, her daughter, and her mother in a ger, in the Govi-Altai province of Mongolia. Her husband Baatarsaihan, age 38, works at a local company as a woodsman. Her mother retired and stays home. Her daughter Anudari, age 3, goes to a local kindergarten.

Choijingarav has been working at a neighborhood grocery store for years. Now the owner is selling the place, and she is planning to purchase the grocery store and start her own business. She is requesting 3,500,000 MNT to purchase the small grocery store and start her own business. She is a well-experienced, hard-working 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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,550 helped Choijingarav to purchase a small grocery store and start her own business.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 26, 2012
Listed
Jan 25, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014