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Davaadalai is a 38-year-old widow who lives with her two children in Khuvsgul province, Mongolia. Her daughter is eighteen, her son is thirteen, and they both study at the secondary school.

Since her husband passed away ten years ago Davaadalai has worked in various jobs to cover expenses for her and her two children. She now rents a stall in the marketplace but is planning to open her own grocery shop. She is requesting a 800,000 MNT loan from XacBank to buy equipment and other necessary items to equip her shop.

Davaadalai is a powerful woman who says, "My children are bigger now and help me run our grocery stall. I am happy that Xacbank can provide me with helpful loans."

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.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,382.4
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Davaadalai to buy equipment and other necessary items to equip her shop.
100% repaid
Repayment Term
16 months (Additional Information)
Repayment Schedule
Sep 18, 2012
Oct 23, 2012
Currency Exchange Loss:
Sep 17, 2013