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Gerlee
Mrs. Gerlee is 34 years old and lives with her husband and daughter in Ger, in the Bayanhoshuu area of Ulaanbaatar city, Mongolia. Her husband Tuvdenjamts works at a local company as an assistant worker. Gerlee gave birth to their daughter Nomin a year ago and has stayed home take care of her daughter and husband since then.

She is now starting a small grocery store business in a rental place. She used to work at a grocery store for years before this and has a lot of experience in the business. She is now requesting 6,000,000 MNT to purchase starting inventory and cover monthly rent. She is a hardworking, optimistic, and diligent 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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,427.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,225 helped Gerlee to purchase starting inventory and cover monthly rent.
49% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Irregularly
Pre-Disbursed:
May 28, 2013
Listed
Jul 1, 2013
Currency Exchange Loss:
Possible