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Rentsennatsag is 47 years old and lives with his wife, daughter and granddaughter in a Ger in Bayanhongor province, Mongolia. His wife Erdenedeleg works as a painter in a furniture making company. His daughter Sainbuyan is a university student who has just given birth to baby girl but has not named her yet.

Rentsennatsag has been working at a private local furniture manufacturing company and now he is starting his own business on his plot of land with his wife. He is requesting 1,600,000 MNT to purchase starting inventory and tools for his newly starting wooden furniture manufacturing business. He and his wife are both hardworking and honest people.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,376.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,175 helped Rentsennatsag to purchase starting inventory and tools for his new business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 26, 2013
Feb 25, 2013
Currency Exchange Loss:
Sep 25, 2014