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Gombojav
Gombojav is 34 years old and lives with his wife and two children in Ger, traditional nomadic tent, in Uvs province of Mongolia. He and his wife Naranchimeg and have been working at a local shoe manufacturing company for over a decade. His two children attend local primary school and kindergarten.

Gombojav has been working at local company with his wife for over 11 years and has a lot of experience. He recently purchased his very first at home machine and started manufacturing traditional shoes and boots by client's orders. He is now planning to purchase an extra machine for his wife to increase their productivity while they are still employed by the local company. He is now requesting a loan of 3,050,000 MNT to purchase shoe sewing equipment to his wife and increase their family income. He is well-experienced, open-minded and hardworking man.

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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,678.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,825 helped Gombojav to purchase shoe sewing equipment for his wife and increase their family income.
98% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 28, 2013
Listed
Nov 2, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 4, 2014