Usuhbayar Namhai

Status: Paid Back

$725
Loan Request
Pre-Disbursed : Feb 3, 2009
Listed: Feb 20, 2009
Funded: Feb 20, 2009
$725
Paid Back
Ended: Jul 15, 2009

About the Country

Country:Mongolia
Avg Annual Income:$2,175
Currency:Mongolia Tugriks (MNT)
Exchange Rate:1,420.5000 MNT = 1 USD


About the Loan

Location: Ulaanbaatar, Mongolia   Repayment Term: 13 months
(more info)
Activity: Clothing Sales   Repayment Schedule: Monthly
Loan Use: To buy a variety of clothes   Currency Exchange Loss: Covered
      Default Protection: Not Covered
Usuhbayar Namhai is a 41-year-old woman who lives with her husband and three children. Her eldest is a 20-year-old girl who works at a tourist camp. She also has a 19-year-old boy, currently unemployed. Usuhbayar's youngest child goes to elementary school. She has been running her business since 1990. When she began running her business, she cobbled traditional Mongolian shoes and her husband sold them. Since 1996, she has run a clothing business with her husband. They rent a clothing stall at the "Herlen" market in Baganuur city. Once a month, one of them goes to Ereen, a city just across the Chinese border, to buy variety of women's clothes, including blouses, skirts and sweaters. The loan they are asking for now is to buy a variety of clothes to increase their business inventory. With her husband, Usuhbayar is building a garage in her yard; however, they don't have a vehicle yet. She says, "Our destiny is in our hands. So my family would like to have our own car. We'll work for that."



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Journal entries for Usuhbayar Namhai


Loan has been disbursed
 
Entrepreneur: Usuhbayar Namhai
Location: Ulaanbaatar, Mongolia

Thank you for your loan. It has been disbursed to Usuhbayar Namhai by XacBank in Mongolia. We are excited to watch this business grow. Over the 11 months of this loan, XacBank will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.


Posted by from Ulaanbaatar, Mongolia
Feb 21, 2009
Comment on this entry

Dear Lenders
 
Entrepreneur: Usuhbayar Namhai
Location: Ulaanbaatar, Mongolia

Usuhbayar Namhay along with her husband sends thanks to all their lenders. It has been four months since Usuhbayar first received a Kiva loan. She went to Ereen, a border city of China, five times to buy men and women's apparel after taking out her loan. The markup on apparel for her business was at least 50%. Now she has marked prices up by 20-30% to sell inventory quickly which has caused her income to increase. Her last wholesale purchase was mainly children's clothes to prepare for June 1st, which is children's day. With her profit she invested in her husband's business to buy raw materials. Her husband makes Mongolian traditional shoes for herders.


Posted by Munhmandah Ochirsharav from Ulaanbaatar, Mongolia
Jun 2, 2009
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Kiva Help Repayment Schedule for Usuhbayar Namhai

  Expected Repayments Actual Repayments Comments
April 2009 $58.43 $58.43 Repayment Received
May 2009 $53.90 $53.90 Repayment Received
June 2009 $56.34 $56.33 Repayment Received
July 2009 $56.03 $56.34 Repayment Received
August 2009 $56.19 $500.00 Repayment Received
September 2009 $59.86 $0.00 Repayment Received
October 2009 $60.33 $0.00 Repayment Received
November 2009 $61.72 $0.00 Repayment Received
December 2009 $64.21 $0.00 Repayment Received
January 2010 $64.99 $0.00 Repayment Received
February 2010 $67.70 $0.00 Repayment Received
March 2010 $65.30 Available Mar 1 Repayment Received