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Burmaa
Mrs. Burmaa is a married borrower from Uvs Province of Mongolia. She lives with her husband and her children in a ger on her brother's small plot of land. She has lost her ability to work party and gets small amount of disability pension. Her husband works as shift cargo driver, he has a driving license for sedans and also for trucks.

She is now requesting a loan of 4,000,000 MNT to purchase a mini van so that her husband can start providing inter-province public transportation. Her two sons work in local companies and contribute to the family's income. Her daughter is still studying in the university.

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
  • 1,811.6
    Mongolia Tugriks (MNT) = $1 USD
Paying Back

This loan has been fully funded!

A loan of $2,225 helped Burmaa to purchase a mini van so that her husband can provide inter-province public transportation.
41% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
May 12, 2014
Listed
Jun 15, 2014
Currency Exchange Loss:
Possible