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Additional Information

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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,697.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Delinquent
A loan of $1,550 helped this borrower to replace his tires with winter tires for safety, and purchase materials and other inventory items for his wife to tailor and make more clothes.
83% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 25, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible