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Daariimaa
Mrs. Daariimaa is 28 years old and lives with her husband and two children in their Ger, a traditional nomadic yurt, in Arkhangai province, Mongolia. Her husband Atanhuyag works at a local construction company as an assistant workman. Her children are a boy and girl aged under three.

Daariimaa graduated from college as a language teacher. She is taking care of her babies at home. She is now requesting loan of 3,000,000 MNT to purchase a second-hand car to let her husband start providing taxi service in town. They are trying to increase their family income since their expenses have increased with two young children, and Daariimaa is not working. Altanhuyag and Daariimaa are a newly wedded young couple who have a good positive attitude and are hardworking.

Picture: Daariimaa with her family.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,764.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $1,725 helped Daariimaa to purchase a second-hand car to let her husband start providing taxi service in town.
30% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 18, 2014
Listed
Apr 30, 2014
Currency Exchange Loss:
Possible