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Mrs. Battsetseg is 32 years old and lives with her husband and two daughters in a small house in Huvsgul Province, Mongolia. Her husband, Bayarmagnai, is 46 years old. He works for a construction company. Her older daughter, Tseveenjaw, is a 21-year-old college student. Her younger daughter, Enhjin, is an 18-year-old secondary school student.

Mrs. Battsetseg started her business in 2004 by renting a commercial space at the local market and offering hair care services. She already has many regular clients. Her husband is planning to have his own business selling clothes, besides his other work. Their income can't cover their family's needs and soon their younger daughter will join the university. Therefore, Battsetseg would like to help her husband. She is an open-minded and hardworking person. She is asking for 2,500,000 tugriks to purchase inventory for her husband's new 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
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,850 helped Battsetseg to purchase inventory for her husband's new clothing sales business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 17, 2012
Sep 9, 2012
Currency Exchange Loss:
Sep 17, 2014