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Altantsetseg
Mrs. Altantsetseg is a 45-year-old widow who lives with her sister and brother in a Ger (Mongolian housing tent) in the Uvs province of Mongolia. Her sister, Oyunchimeg, age 37, and brother, Nergui, age 37, help her to grow and sell organic vegetables on their plot of land. She has been growing organic vegetables for years and stores them in their storage pit to sell during winter, when the price has raised to the highest level. She rents a counter in a local market and sells her organic vegetables.

She is now requesting 6,500,000 MNT (Mongolian tugriks) to purchase soils, seeds and other necessary items for the next planting. She is a hardworking and modest woman.

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.

About Mongolia

  • $2,175
    Average annual income
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,387.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,700 helped Altantsetseg to purchase soils, seeds and other necessary items for next plantation.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 21, 2012
Listed
Jan 19, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 7, 2013