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N. Erdenetsetseg is 40 years old and lives with her husband and two children in Zavkhan province, Mongolia. She and her family live in a ger, which is a traditional Mongolian housing tent. Her oldest daughter is a university student and her youngest attends a local secondary school. Her husband works as a driver and operates a small transportation service. Erdenetsetseg operates a vegetable trading business in her town. She has a 0.4-hectare field where she grows her vegetables. Erdenetsetseg started her vegetable business in 2000 and has built a stable operation over the years. She has become an experienced vegetable grower and has a loyal base of customers that like her quality vegetables. Erdenetsetseg is working hard to continue her success in the future and hopes to expand. Her wish is to expand her field to one hectare so she can increase her output. She says, “Growing my business is important because I want to save money for my children's future.” Erdenetsetseg is requesting a 2,000,000-tugrug loan to purchase extra vegetables to sell in her business.

About XacBank
XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

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Additional Information

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
  • 1,456.1
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,375 helped Erdenetsetseg to purchase extra vegetables to sell.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 10, 2009
Dec 11, 2009
Currency Exchange Loss:
Nov 15, 2010