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Undraa
Undraa is 43 years old and lives with her husband and three children in a house in Zavhan province of Mongolia. Her husband Bayarsaihan, age 43, works part-time as an interior designer. Her sons Tovuudorj, age 22, Sambuunyam, age 17, and daughter Baljinnyam, age 14, are university and secondary school students. She has been running their family business as a cobbler in a rental place since 1987. She has gained lot of experience and regular customers over the years. Her business has stopped for while because of a lack of investment and now she is requesting 2,500,000 MNT to purchase leather, soles and other materials to start making traditional and modern shoes for her customers. She is a hardworking, neat and responsible 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

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,800 helped Undraa to purchase leather, soles and other materials to start making traditional and modern shoes for her customers.
87% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 28, 2013
Listed
Apr 18, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2014