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Yura
Yura is 68 years old and lives with his wife and his son's family in a rented apartment in the Sansar area of Ulaanbaatar city, Mongolia. His wife, Tseyenhorloo, is 59 and retired. She stays home and takes care of her husband and their 33-year-old son, Bathuyag, who works at a local drilling company. Yura's daughter-in-law stays home and takes care of his grandson.

Yura has had a business providing taxi services in the city since 2003, and he is an experienced driver. His wife is planning to start a business selling vitamins and other nutrients in order to increase the family's income, since they have a newborn in the family. Yura is asking for a loan of 3,000,000 MNT to let his wife start her vitamin and nutrient sales business at a rented counter of a market. Yura's family is happy and hardworking.

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
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,702.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Yura to let his wife start a business selling vitamins and nutrients.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 17, 2013
Listed
Sep 20, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014