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Uugantsetseg
Uugantsetseg is a twenty-five-year-old woman who lives with her husband and two children in Govisumber province in Southern Mongolia. Her husband is employed as a welder. Her children stay at home. She has been running a food cart business for many years. Her mother has sold food at the train station since she was little. Uugantsetseg usually prepares the food in packages and trades them at the train stations. Her business has many regular customers.

She is planning to operate a cafe business with help from her mother and she needs some financing for the business which will help to keep the food safe. Also, she needs a solar panel, table and chairs for her cafe. Uugantsetseg is an active and diligent woman who says that "In the future I would like to develop my business activities and save my money for my children".

The total amount she is requesting is 1,500,000 MNT to buy the necessary equipment to open her new ger cafe business.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • $15,367,100
    Funds lent in using Kiva
  • 1,310.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,150 helped Uugantsetseg to buy the necessary equipment to open her new ger cafe business.
93% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 23, 2012
Listed
May 15, 2012
Currency Exchange Loss:
Possible
Ended:
May 17, 2014