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Sarantuya
Mrs. Sarantuya is 26 years old and lives with her husband and daughter in a small house in Orhon province of Mongolia. Her husband Oyun-Erdene, age 25, works at a local private company. Her daughter Amin-Erdene, age 3, goes to local kindergarten.

Mrs. Sarantuya graduated from a hairstylist course in 2001 and started working in a big hair salon in 2002. She has gained a lot of experience and customers over the years and is now planning to start her own hair salon in a rental place. She is now requesting 2,000,000 MNT to purchase equipment and tools to start her own hair salon. She is hardworking, open-minded and modest.

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
  • $15,364,275
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Sarantuya to purchase equipment and tools to start her own hair salon.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 16, 2012
Listed
Jan 15, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 28, 2013