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Erdenetsetseg
Mrs. Erdenetsetseg is a 45-year-old female head of household who lives with her twin daughters and her mother in a small house in the Dundgovi province of Mongolia. Her mother is retired and stays at home. Her twin daughters, Battuya and Battsetseg, 17, are seniors at the local secondary school. The borrower has been working as a dentist for years and has provided dental service in the countryside to herders by appointment for some time. Now she is starting her own business and applying for a loan of 2,500,000 MNT to purchase equipment and tools to start a small dental clinic to serve herders in the countryside. She is a hard-working, open-minded, and helpful woman.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,825 helped Erdenetsetseg to purchase equipment and tools to start a small dental clinic to serve herders in the countryside.
88% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 15, 2013
Listed
Mar 2, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014