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Ganchimeg
Ganchimeg, 38, lives with her husband and 3 children in a ger in Ulaanbaatar, Mongolia. Her husband, Batsuuri, is 34, has worked at mining company as a driver of a big truck for years. Her older son is senior student at a local secondary school and her 2 daughters go to a local kindergarten. Ganchimeg and her husband bought a truck for providing transportation services in town in August 2012. Ganchimeg is in charge of collecting the payments and dealing with customers. She and her husband make a good team as transportation providers. They currently need to replace the wheels of their truck to continue their business and are therefore requesting 5,000,000 MNT to purchase 4 wheels. She and her husband are hardworking and responsible 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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $3,500 helped Ganchimeg to purchase 4 wheels to continue her family's transportation business.
96% repaid
Repayment Term
23 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 10, 2013
Listed
Jul 4, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013