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Altantsetseg, aged 31, lives with her husband and two children in a small house in Ulaanbaatar, the capital city of Mongolia. Her husband, also aged 31, is in the trucking business. Their two children stay at home. When Altantsetseg was a knitter at GOVI LLC, she acquired experience in the wool and cashmere production business.

Altantsetseg is now running a knitwear production business as a sole proprietorship. She is planning to run her knitting business with her younger sisters. Soon it will be getting cold so she is planning to install heating for her workplace. Altantsetseg is an accountable and handy person. She is asking for a loan of 5,000,000 MNT to purchase heating for her workplace and a knitting machine.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,675 helped Altantsetseg to purchase heating for her workplace and a knitting machine.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 27, 2012
Sep 4, 2012
Currency Exchange Loss:
Jul 17, 2013