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Davaa
Mr. Davaa is 54 years old and lives with his wife and son in a ger in the Bayanhongor province of Mongolia. His wife Buzmee, age 48 is retired and stays home. His son Baljinnyam is 16 years old and goes to a local secondary school. Davaa worked at a local hospital for years and is retired. He is now planning to start his own medication business and is requesting 1,000,000 MNT to purchase the necessary equipment for his new medication service business. He is a hardworking and diligent 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

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Davaa to purchase necessary equipment for his new physical medication service.
90% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 18, 2013
Listed
Feb 17, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014