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Luvsantseren
Luvsantseren S. is 61 years old and lives with his wife and four children in the Chingeltei district of Ulaanbaatar, the capital city Mongolia. His children range in age from 21 to 33 years and they help out with their parents' business. He lives with her wife in a ger, a traditional Mongolian nomadic tent, while the children live in houses separately in the same yard.

Luvsantseren began his business in 1993 specializing in the sale of electric cable, accessories, tires and other electrical stuff. He sells at three rented stalls in Narantuul, the biggest and most crowded market in Ulaanbaatar. He says, “My only wish is to complete the new house which is under construction now”.

Luvsantseren is requesting a 3,500,000 MNT loan in order to increase his business working capital and purchase more electrical stuff and items at wholesale prices to retail in his business.

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

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,322.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,650 helped Luvsantseren to purchase more electrical stuff to sell.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 13, 2010
Listed
Aug 17, 2010
Currency Exchange Loss:
Possible
Ended:
Apr 16, 2011