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Altantsetseg, 38, lives with her two sons in Uvurhangai Province of Central Mongolia. Her husband lives in the capital city, and their oldest son studies at the high school. Altantsetseg has been running a home products retail business since 2009, offering good prices and quality merchandise that attract many customers. With sales up over the past last year, her business plan is to reduce costs by purchasing her goods at a discounted price from the capital city.

Now requesting a loan of 1,000,000 MNT to purchase those goods, Altantsetseg says, I would like to extend my business so that I can increase my income and save for my sons' tuition fees."

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,330.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $775 helped Altantsetseg to purchase more household goods for resale.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jan 30, 2012
Feb 14, 2012
Currency Exchange Loss:
Feb 15, 2013