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Byambasuren
Mrs. Byambasuren is 48 years old and lives with her husband and son in a relative's house rent-free in the Bayanhoshuu area of Ulaanbaatar city, Mongolia. Her husband Ganbat is 54 and works at a local company as a driver. Her son has graduated from college and is now looking for a job.
Byambasuren is a hardworking and diligent lady who started her own business selling clothes in a rental stall at the local market in 2003. She has just started selling used clothes in a rented basement room close to the crowd to increase her sales and profitability. She has a dream of expanding her business into a big clothing shop. She is now requesting loan of 5,000,000 MNT to purchase a large amount of second hand clothes to resell in her shop.

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
  • $15,307,900
    Funds lent in using Kiva
  • 1,705.9
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,950 helped Byambasuren to purchase a large amount of second hand clothes to sell.
61% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 24, 2013
Listed
Jan 22, 2014
Currency Exchange Loss:
Possible