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Altanchimeg
Altanchimeg D. is 33 years old and lives with her husband, daughter, and parents-in law in Ulaanbaatar, the capital city of Mongolia. They live in a ger, a traditional nomadic housing tent.

Since 2003, with the help of her husband, Altanchimeg has been operating a meat retailing business at a rented stall in Han Talst, one of the biggest markets in her town. She specializes in selling mutton and beef. She has worked hard to grow her business over the years and now her working capital has reached to 2,500,000 MNT and her daily sales are approximately 400,000 MNT.

As her business is the only source of income for her family, Altanchimeg is focused on improving her skills as a meat retailer and growing her business. She hopes to one day own her own meat-retailing store.

Altanchimeg is requesting a 3,000,000 MNT loan in order to complete her house which is in the process of being built on a plot of land that she bought with her business revenues.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,313.2
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Altanchimeg to complete building her house.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 13, 2010
Listed
Aug 20, 2010
Currency Exchange Loss:
Possible
Ended:
Sep 15, 2012