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Tumenhuu
Mr. Tumenhuu is 55 years old and lives with his wife in a Ger (Mongolian housing tent) in the Govi-Altai province of Mongolia. His wife, Ser-Od, is retired and stays home. Tumenhuu had been working at a state-owned company for years and retired a few years ago. His and his wife's pensions cannot cover their family expenses, so he is planning to start his own business of meat products production and sales in a local market.

He is now requesting 500,000 MNT (Mongolian tugriks) to purchase livestock intestines and produce traditional food products to sell to local customers in a local market. He is a hardworking, neat and welcoming man.

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
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,380.3
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $375 helped Tumenhuu to purchase livestock intestines and produce traditional food products to sell to local customers in a local market.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 30, 2012
Listed
Jan 28, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2015