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Mrs. Naranzul is 32 years old and lives with her husband and two daughters in Ger in the Uvs province of Mongolia. Her husband, Damiran, runs a taxi service business within the area. Her two daughters, Altantsetseg and Altanchimeg, go to the local kindergarten. She gave birth to her youngest daughter and stayed home, until now, taking care of her two daughters. Her youngest daughter has just started going to kindergarten and Naranzul is now planning to start her own business as a cobbler in her home. She had been working as cobbler for years, before she gave birth, and she knows everything about it. She is now requesting 2'500'000MNT to purchase starting inventory for her cobbler business. She is a hardworking, friendly and diligent woman.

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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,825 helped Naranzul to purchase starting inventory for her cobbler business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Nov 25, 2012
Dec 24, 2012
Currency Exchange Loss:
Dec 17, 2013