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Narangerel
Mrs Narangerel is 49 years old and lives with her husband in Ger in the Orhon province of Mongolia.

She has been working as a tailor in a private company since 1997. She has gained a lot of experience and customers over the years. She has been tailoring traditional and modern clothes at home to order during her spare time since 2008.

She is now planning to start her own business at home and is requesting 3,500,000MNT to purchase a large amount of supplies to start her tailoring business at home.

She is a hardworking and positive woman, who has a good record with her previous loans at XacBank.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,422.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,475 helped Narangerel to purchase a large amount of supplies to start her tailoring business at home.
77% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 14, 2013
Listed
May 21, 2013
Currency Exchange Loss:
Possible