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Monhtsetseg
Mrs. Monhtsetseg is 38 years old and lives with her husband and 2 children in their house in the Han-Uul District of Ulaanbaatar, Mongolia. Her husband Batsaihan, 37, works as a security guard for a private company. Her daughter Hulan, 15, is a secondary school student. Her son Bat-Irmuun, 2, stays at home. She has been working as a hairdresser for 3 years, and she is now planning to start her own business of a barber shop in a spare room in their house. She is now asking for a 2,500,000 MNT loan to purchase hairdresser equipment, tools and other necessary stuff for her business. She is a hardworking and open-minded person.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,398,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,800 helped Monhtsetseg to purchase hairdresser equipment, tools and other necessary stuff for her business.
98% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 30, 2012
Listed
Nov 25, 2012
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013