Amber had given me a $25 gift certificate for a Kiva loan, for Mother’s Day. I selected a loan from someone in Mongolia, and actually one of the areas that we visited during my visit to Amber, over 2 years ago. I’m interested to see how this works out! Here is the specific link to Buyanravjih. http://www.kiva.org/lend/304675
Uvurhangai, Mongolia Food | Grocery Store
This loan has been fully funded!
A loan of $2,850 helped Buyanravjih to purchase more grocery products.
26 months (more info)
May 25, 2011
Jun 4, 2011
Currency Exchange Loss:
Buyanravjih is a 63-year-old widow who lives in a rented house in the province of Uvurhangai in Mongolia. All of her children have grown up and live separately. In 2000, Buyanravjih started a grocery trading business at a rented stall in the Zanabazar trading center and has gained much experience, managing to build a strong customer base and expand her operation. She has also developed long-term and transparent relationships with her partners and suppliers.
A hardworking and honest woman who is planning to continue her business in the future, Buyanravjih says, “I want to build savings with the earnings I make.” She is now requesting a 3,500,000 MNT loan to purchase more grocery products to increase her business sales.
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 the Country
Avg Annual Income:
Mongolia Tugriks (MNT)
1,233.0000 MNT = 1 USD
107 lenders to this borrower