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Tsetsegbayar

Update on Tsetsegbayar

Tsetsegbayar is 28 years old and lives with her husband and daughter, in a ger, a Mongolian yurt, in Arhangai province of Mongolia. Her husband's name is Erdenehuu, and he is 29 years old. Her daughter has started to go to school.

She started her own beauty products trade business with working capital of MNT 500,000. She has increased this account to MNT 1,100,000. She is well-experienced in this beauty products trading. Her customers appreciate her as a hardworking and quiet woman. Now her business is sustainable, and she has many regular customers.

She is requesting a MNT 1,200,000 loan to pay school fees for her daughter.

Previous Loan Details

Tsetsegbayar is 26 years old and lives with her husband and daughter in Arhangai province, Mongolia. She and her family live together in a 'ger', which is a traditional Mongolian nomadic housing tent. Her husband, Erdenehuu, operates a taxi service and always supports Tsetsegbayar's business. T... More from Tsetsegbayar's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Tsetsegbayar to pay school fees for her children.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 31, 2012
Listed
Sep 25, 2012
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2013