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Alttsetseg
Alttsetseg is a widow and the mother of three children. She and her family live together in a ger, the Mongolian nomadic tent. Her oldest daughter, aged 14, attends a local secondary school. Her two youngest daughters, aged 12 and seven, attend a local primary school. Alttsetseg operates a second-hand products trading business at a market called Yalalt. She has been operating her business since 1995, and has gained significant experience and steadily expanded her business.

Since Alttsetseg's husband passed away, she has been operating her business and taking care of her family on her own. She is a very hard-working person and is optimistic about the future. To save on transportation costs, she purchases her products with other traders. Alttsetseg purchases her products once or twice a month and spends 800,000 – 1,200,000 tugrugs (~570 – 860 USD) per purchase. As her business is the only source of income for her family, it is very important to her. She says, “As prices have increased, being in business requires more working capital. I will operate my business from one shipping container until my daughters have grown up.” She is requesting a 2,200,000 tugrug (~1570 USD) loan to purchase second-hand products for summer which she will sell from her shipping container.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,381.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Alttsetseg to purchase more second-hand clothes.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 15, 2010
Listed
Apr 24, 2010
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2012