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Badamjav
Mrs. Badamjav is 44 years old and lives with her husband and two daughters. They live in a house in Uvs province of Mongolia. Her husband, Tumenbayar, works at a local school as a teacher. Her daughters are students: Bolortuya, age 18, is a freshman at university, and Baljinnyam, age 11, goes to a local school.

Borrower has been running a business, selling clothing in a local market, since 2000. She has gained lot of experience in dealing with customers and suppliers. She is now starting a tailoring service business at home. She requests 4,000,000 MNT, to purchase an electric sewing machine and inventory for her new tailoring business. She is a hard-working, honest, diligent woman.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,875 helped Badamjav to purchase an electric sewing machine and inventory for her new tailoring business.
89% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 5, 2013
Listed
Mar 8, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014