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Altanbagana is 39 years old and lives with her husband and three children in a ger (Mongolian yurt) in Uvurhangai province, Mongolia. Her husband is a driver, her two eldest children are school students and the youngest one is in kindergarten.

She started her felt (compressed wool) boot-making business in 2009. Her boots are natural and affordable. During the summer, felt prices drop. Therefore, she needs to save in order to run her business successfully.

She is a sharp and hardworking woman who is requesting 500,000 MNT to buy raw materials for her boot-making 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

  • $5,900
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,308.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $400 helped Altanbagana to buy raw materials for her boot-making business.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Apr 30, 2012
May 7, 2012
Currency Exchange Loss:
Feb 15, 2013