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Namuun-Aizam
Namuun-Aizam is 25 years old lives with his wife and son in a ger in the Hentii province of Mongolia. His wife, Tuya, is 27 years old and works at a local grocery store. Namuun-Aizam's son, Erhembayar, is five years old and goes to a local kindergarten. Namuun-Aizam has been working as a carpenter and he also works from time to time making furniture at home during his free time.

Namuun-Aizam is requesting a 2,000,000 MNT loan to purchase inventory for his new business making traditional Mongolian furniture items at home. He is a hardworking, diligent, and positive 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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,450 helped Namuun-Aizam to purchase inventory to make traditional Mongolian furniture items at home.
90% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 17, 2013
Listed
Mar 19, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014