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Altangerel is 55 years old and lives with his wife in Arhangai, Mongolia. They live in a traditional Mongolian nomadic housing tent called a ger. Their children are grown and have left home. Altangerel and his wife operate a dairy production business at a local market. He produces and sells milk, curd and skim milk. He has been in the business since 2007 and has steadily expanded it. During the summer he sells only milk but in the spring and autumn he sells other dairy products as well. Altangerel would like to improve his livestock and develop breeds. He is optimistic about the future and hopes to grow his business into a stable operation. Altangerel is requesting a 4,000,000 tugrug (~ 2815 USD) loan to purchase livestock.

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,437,650
    Funds lent in using Kiva
  • 1,452.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,775 helped Altangerel to purchase livestock for his diary business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Mar 2, 2010
Mar 22, 2010
Currency Exchange Loss:
Dec 15, 2010