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Narantsetseg
Mrs. Narantsetseg is 45 years old and lives with her four children, in a ger (Mongolian yurt) in Uvs province of Mongolia. Her husband passed way. Her older son's name is Bat-erdene; he is 20 years old, and works for a local private company. Her oldest daughter is a college student, and her two younger children go to secondary school. Previously, she worked at a local private construction company as a chef. She graduated from a sewing course in June, 2012. Now she would like to start her own sewing business. Therefore, she needs fabric and string, so she is requesting 3,500,000 MNT. In addition, she has taken a seamstress course, and she is planning to add this service to her 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
  • 5
    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 $2,575 helped Narantsetseg to purchase fabric and string.
88% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 27, 2012
Listed
Sep 12, 2012
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014