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Myagmardorj
Mr. Myagmardorj is 47 years old and lives with his wife and two children in a ger in Hovd Province of Mongolia. His wife, Yanjinlham, age 47, runs a small fruit and vegetable retail business in a local market. His daughter, Baasansuren, helps her mother to run their organic vegetable and fruit sales business in the market. His son, Byambadorj, works for a local company as an assistant worker. This borrower has been working as a fireman for a local company. He has retired and is now planning to start a taxi service business in town.

Mr. Myagmardorj is requesting a 3,000,000 tugrik loan to purchase a secondhand car to provide a taxi service business in town. He is a hardworking, positive and well experienced 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
  • 15
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Myagmardorj to purchase a secondhand car to provide a taxi service business in town.
94% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 29, 2013
Listed
Mar 2, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013