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Narantsetseg

Update on Narantsetseg

Mrs. Narantsetseg is 30 years old, and lives with her husband and son in a ger (traditional, round, felt tent) in Ulaanbaatar city, Mongolia. Her husband, Togoonyam, age 31, works at a mining company, as a driver. Her son, Altanbagana, age 6, goes to a local kindergarten.

Borrower has been running various kinds of business over the years and has obtained a lot of experience and regular customers. She has been running a grocery store business since 2010. Now, she is requesting a 3,000,000 MNT loan to purchase inventory for her grocery store, in expectation of increased demand during Lunar New Year. She is a hard-working, welcoming, and modest woman.

Previous Loan Details

Narantsetseg is 30 years old and lives with her husband and son in a ger (or Mongolian yurt) in Ulaanbaatar, the capital of Mongolia. Her husband is a car driver and her son is a kindergarten student. She started her grocery-selling business in 2010 by renting a small shop. Her location is good a... More from Narantsetseg's previous loan »

Additional Information

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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Narantsetseg to purchase inventory for her grocery store, in expectation of increased demand during Lunar New Year.
89% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 28, 2013
Listed
Feb 18, 2013
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014
This photo was used before for a previous loan for Narantsetseg. It was first posted on Kiva on Mar, 2012. Learn More