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Altantsetseg

Update on Altantsetseg

Mrs. Altantsetseg is 54 years old and lives with her husband, daughter, and granddaughter in a small house in Niseh District, Mongolia. Her husband, Rentsendorj, age 56, works with his wife in their food delivery business. Her daughter, Dariimaa works at a local company, and her granddaughter, Anujin, age 4, goes to a local kindergarten. The borrower has been working at a shoe-manufacturing company for years and started her food delivery business in 2009. She cooks lunch or dinner at home and delivers it to local companies' staff during lunchtime and dinner time. She is now requesting 1,000,000 MNT to purchase an eco-friendly, smokeless, and economic stove for her house in order to stay warm during winter and burn less coal or firewood. She is a hardworking and diligent woman.

Previous Loan Details

Altantsetseg is 52 years old and lives with her husband, daughter, and granddaughter in a ger, a Mongolian yurt, in Ulaanbaatar city, Mongolia. Her husband is a retired old man who babysits his granddaughter. Altantsetseg’s daughter helps her with the business. Altantsetseg started her food ... More from Altantsetseg'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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Altantsetseg to purchase an eco-friendly, smokeless, and economic stove for her house in order to stay warm during winter and burn less coal or firewood.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 17, 2012
Listed
Jan 16, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 15, 2013
This photo was used before for a previous loan for Altantsetseg. It was first posted on Kiva on Oct, 2011. Learn More