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Altantsetseg
Mrs. Altantsetseg is a 50-year-old female head of the family who lives with her 2 sons in a small house in the Huvsgul province of Mongolia. Her sons work at local companies.

Altantsetseg has been working as a saleswoman since 2003, and she has gained a lot of experience in the retail business and built a close relationship with suppliers and customers over the years.

She has just started her own business of stationery sales in a local market and now is requesting a loan of 1,300,000 MNT to purchase inventory for her new business. She is a hardworking, diligent and friendly 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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $950 helped Altantsetseg to purchase inventory for her new stationery sales business.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 15, 2013
Listed
Mar 14, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2013