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Zoljargal
Mr. Zoljargal is 30 years old and lives with his wife in a house in Uvurhangai province of Mongolia. His wife, Yanjinsuren, age 33, is currently unemployed. The borrower has been running a transportation service business in town since 2005. He transports food products back and forth to Ulaanbaatar and Uvurhangai province. He is now requesting 4,000,000 MNT to purchase inventory for his wife to start up a clothing sales business in a local market. His wife has experience of some years in clothing sales business. Both the borrower and his wife are hardworking, welcoming and modest people.

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
  • $15,360,225
    Funds lent in using Kiva
  • 1,376.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,925 helped Zoljargal to purchase inventory for his wife to start up a clothing sales business in a local market.
89% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 26, 2013
Listed
Feb 25, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014