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Mrs. Gantsetseg is 39 years old and lives with her husband and three children in a small house in Songinohairhan province, Mongolia. Her husband Erdenebat is a driver. Her three children, Solongo, Delgersaihan and Anhiluun, are ages twelve, seven and three. They go to the second-level school and kindergarten.

Mrs. Gantsetseg started transportation service business in 2009 with her husband. In future, she is planning to buy a new micro-bus. Her car is broken and due to this her business is stopped now. She is asking for a loan of 3,500,000 MNT to purchase a car in order to continue her transportation-providing 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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,432,150
    Funds lent in using Kiva
  • 1,370.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,575 helped Gantsetseg to purchase a car in order to continue her transportation business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Sep 18, 2012
Oct 22, 2012
Currency Exchange Loss:
Apr 16, 2014