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Update on Munhtsetseg

A diligent and honest woman, Munhtsetseg is 45 years old and lives with her two children in a ger in Hovd province, Mongolia. Her older daughter, Ariuntungalag, is nineteen years old and a college student. Her younger daughter, Ariuntuya, is eighteen years old and a secondary school student.

In 2000 Munhtsetseg rented a counter in the market and started selling fruits and vegetables. She still does so, importing her fresh produce from close to the Mongolian border.

Munhtsetseg is applying for a 3,300,000 MNT loan from XacBank. She plans to reserve fruit now when prices are the lowest and sell them later when prices go up.

Previous Loan Details

Munhtsetseg M. is a 37-year-old widow who lives with her two teenage daughters in the Hovd province of western Mongolia. Both of her daughters currently attend the local high school. Munhtsetseg operates a small food-selling business at the local market in her town. She sells a variety of grocery... More from Munhtsetseg's previous loan »

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.

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

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,400 helped Munhtsetseg to reserve fruit now so as to sell it later at a higher price.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Sep 14, 2012
Oct 16, 2012
Currency Exchange Loss:
Oct 17, 2013