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Ms. Amarjargal is a 50-year-old widow who lives with her daughter and niece in an apartment in the Zavhan province of Mongolia. Her daughter stays home taking care of her baby daughter Bayarjavhlan, aged 2. Amarjargal has been a herder for the years after her husband passed away. She has now moved to the province center with her daughter and niece. She is now requesting 1,000,000 MNT to start her shoe repair business at home and purchase starting inventory for it. She is hardworking, diligent and a responsible 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
  • 1,395.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Amarjargal to start her own shoe repair business at home and purchase starting inventory for it.
100% repaid
Repayment Term
8 months (Additional Information)
Repayment Schedule
Mar 16, 2013
Apr 17, 2013
Currency Exchange Loss:
Jul 17, 2013