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Narantuya
Mrs. Narantuya is 45 years old, and she lives with her husband and three children in an apartment in Orhon province of Mongolia. Her husband Erdenjav, age 48, works at a local mining company. Her son Batbileg, age 23, is a university student, while her daughter Bolortuya, age 18, and son Monhbold, age 6, go to local schools.

Mrs. Narantuya has been working as a saleswoman since 2001. She has gained a lot of experience and many regular customers. She is now starting her own clothing sales business in a rental counter, and she is requesting 3,500,000 MNT to purchase starting inventory for her clothing sales business. She is a hardworking, well-experienced and honest woman who says, "Next year my two children will be university students and I need to save for their tuition from now on."

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
  • $15,364,275
    Funds lent in using Kiva
  • 1,389.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,525 helped Narantuya to purchase starting inventory for her clothing sales business.
89% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 23, 2013
Listed
Mar 27, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014