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Sainjargal
Mr. Sainjargal is 40 years old and lives with his wife and 2 sons in a ger (a traditional Mongolian hut) in the Bayanhongor province of Mongolia. His wife Battor, aged 36, is currently unemployed. Previously she had been working at a local tailoring service company and has gained lots of experience there. His son Zandangarav, aged 20, runs a taxi service with his father. Dorjnamjaa, aged 13, studies at a local school. Mr. Sainjargal has been running his taxi service in town since 2008. He is now requesting a loan of 2,000,000MNT to purchase an electric sewing machine and inventory for his wife to start a tailoring service at home. His family members are hardworking and diligent 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

  • $2,175
    Average annual income
  • 18
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,378.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,475 helped Sainjargal to purchase an electric sewing machine and inventory for his wife to start a tailoring service at home.
61% repaid
Repayment Term
37 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 26, 2013
Listed
Feb 26, 2013
Currency Exchange Loss:
Possible