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Mrs. Jardemgul is a 27 year old woman who lives with her husband and two sons in a small house in the Bayan-Ulgii province of Mongolia. She stays at home taking care of their five year old and eight month old new born son. Her husband runs a transportation service business within their town using a rental van.

He has been operating this transportation service within their town and between cities with this particular van for two years and now the owner of the van is selling it. Mrs. Jardemgul's husband is planning to buy the van and officially run the business with his own van. She is requesting 3,500,000MNT to purchase the van to let her husband to continue his transportation service. Both the borrower and her husband are hardworking people.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,429.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,450 helped Jardemgul to purchase a van to let her husband continue his transportation service.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
May 7, 2013
May 19, 2013
Currency Exchange Loss:
Jan 7, 2015