Check out some available loans that are similar to this one!
Yakula

Update on Yakula

Mr. Yakula is a 52-year-old borrower from Bayan-Ulgii province, Mongolia. His wife is helping his business of clothing retail. His older children have graduated from school and now live independently. His youngest daughter is living with them and studying at the local secondary school.

Yakula is grateful to XacBank and Kiva for providing him the opportunity to grow his business, support his family and children's education. He is running his business normally and now requests a loan of 6,000,000MNT to pay his daughter's education fee and to purchase a large amount of inventory to sell at his rental stall. He is a hardworking and diligent man.

Previous Loan Details

Mr.Yakula is 51 years old and lives with his wife and three children in a small house in the Bayan-Ulgii province of Mongolia. His wife Juldiz is 51 and helps her husband run their family business of retail clothing at a rental counter of the local market. Their older daughter, Saulegul, is 24 an... More from Yakula's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,770.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $3,400 helped Yakula to pay his daughter's education fee and to purchase a large amount of inventory to sell at his rental stall.
27% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 2, 2014
Listed
May 2, 2014
Currency Exchange Loss:
Possible
This photo was used before for a previous loan for Yakula. It was first posted on Kiva on Aug, 2013. Learn More