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Shinenemeh
Shinenemeh is 25 years old and lives with his mother and brother in a ger in the Huvsgul province of Mongolia. His mother, Tserensuren, is 49 and partially disabled, so she stays home. His brother Lhagva-Ochir, age 26, runs a small business selling firewood and coal in the local market. Shinenemeh has been helping his brother to run his business for the last four years.

Shinenemeh is now planning to start his own taxi service business in town. He is now requesting a loan of 1,800,000 MNT to purchase a second-hand vehicle to start his business. He is a well-behaved, helpful, and hardworking 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
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,300 helped Shinenemeh to purchase a second-hand vehicle to start his own taxi service business.
88% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 16, 2013
Listed
Apr 18, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 24, 2014