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Sarangerel
Mrs. Sarangerel is 43 years old and lives with her husband in Ger, in Tosontsengel soum of Zavhan province, Mongolia. Her husband, Bold, age 52, runs a transportation service in town. Sarangerel has been working as a tailor in a local company since 2003. She has a lot of experience in the industry and has built strong relationships with customers and suppliers over the years. She is now planning to start her own business offering tailoring service at home. She is requesting 2,600,000 MNT to purchase starting inventory for her new business. She is a 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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,382.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,900 helped Sarangerel to purchase starting inventory for her new tailoring business.
94% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 26, 2012
Listed
Jan 25, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013