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Jambal
Mr Jambal is 37 years old and lives with his wife and son in the Orhon province of Mongolia. His wife Amandik works at a local woollen rug manufacturing company.

Jambal has been working at a local company as a carpenter for years and has a lot of experience in the wooden furniture manufacturing industry. He is now starting his own wooden furniture manufacturing business on his plot of land and is requesting 6,000,000 MNT to purchase equipment and construction material to build a small workplace on his land.

He is a hardworking, optimistic and talented 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

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,422.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,225 helped Jambal to purchase equipment and construction material to build a small workplace on his land.
87% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 2, 2013
Listed
May 21, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 7, 2015