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Mrs. Aldarmaa is a 35-year-old woman who lives with her husband and two children in Ger in the Govi-Altai province of Mongolia. Her husband Davaatseren has been working as an assistant worker in a wooden furniture manufacturing company for years. Her daughter Angarmaa, who is 14, and her son Purev-Ochir, who is 11, are secondary school students. She has been running a butcher shop since 2003 in a rental counter of a local market. She and her husband are planning to start a new business of furniture manufacturing in their area. She has already built a strong relationship with local suppliers and customers and it will be easier for them to start their new wooden furniture manufacturing business. She is now requesting 3,800,000 MNT to purchase starting inventory for starting their wooden furniture manufacturing business. She and her husband are honest, responsible and hardworking people.

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
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,750 helped Aldarmaa to purchase starting inventory for a new wooden furniture manufacturing business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 7, 2012
Nov 27, 2012
Currency Exchange Loss:
Nov 17, 2013