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Amgalan
Amgalan is 37 years old and lives with her husband and four daughters in a small house in the Bayanhoshuu area of Ulaanbaatar, Mongolia. Her husband Oyunbaatar works at a local state owned company. Her older two daughters go to local schools and her twin daughters aged two go to a local kindergarten. Amgalan has been working as a saleswoman since 2005. She has built a close relationship with her suppliers and customers over the years and now she is starting her own business of selling secondhand shoes retail at a rental counter of the local market. She is now requesting a loan of 1,500,000 MNT to purchase a large amount of seasonal secondhand shoes to sell to local customers. She is a hardworking, positive 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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,430.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,050 helped Amgalan to purchase a large amount of seasonal secondhand shoes to sell to local customers.
90% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 6, 2013
Listed
Jun 5, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014