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Erdenetsetseg is 51 years old and lives with her husband and three children in a ger in Zavhan Province, Mongolia. Her husband, Zedbazar is a herder. Her oldest daughter, Handmaa, is a transaction agent in a private business. Her oldest son, Demberelsambuu, is unemployed and her younger daughter, Nyamjaw, is a college student. She started her business in 2009 by selling food and flour on a rental counter in the black market. Her business is sustainable and has many regular customers and suppliers. She is planning to improve her business by adding a shoe-repair feature. She is an honest and hardworking person. She is requesting 2 000 000 MNT to buy raw materials for her new business and make an educational payment for her younger daughter.

Additional Information

More information about this loan

This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,365.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,475 helped Erdenetsetseg to buy raw materials for her new business and make an educational payment for her younger daughter.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 9, 2012
Sep 11, 2012
Currency Exchange Loss:
Aug 17, 2014