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Mrs. Gunjlham is a 30-year-old female head of household. She lives with her two sons in Ger in Govi-Altai province of Mongolia. Her son Uchralsaihan, age 8, studies at local primary school. Saihanbayar (her other son), age 4, goes to a local kindergarten. The borrower has been working at her sister-in-law's small restaurant for years, and she is now planning to start her own business based on her years of experience. She is now requesting 1,000,000 MNT to rent a restaurant to start her own business. She is hardworking and energetic person who says "I have to work hard to save for their further education and brighter future."

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
  • 1,378.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Gunjlham to rent a restaurant to start her own business based on her years of experience.
100% repaid
Repayment Term
12 months (Additional Information)
Repayment Schedule
Jan 27, 2013
Feb 27, 2013
Currency Exchange Loss:
Jun 13, 2013