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Ms. Altan-Uya is 23 years old and lives with her brother, in a house in the Bayanhoshuu area of Ulaanbaatar, Mongolia. Her brother, Altannaran, works at a local construction company.

Borrower has been working with her mother, making handcrafted souvenirs, since 2008. She has a lot of experience, and has built close relationships with customers and suppliers over the years. Now, she is requesting a 1,500,000 MNT loan, to purchase equipment and tools to start her own handcrafted-souvenir business. She is a hard-working, helpful and enthusiastic 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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,100 helped Altan-Uya to purchase equipment and tools to start her own business, making handcrafted souvenirs.
92% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Feb 25, 2013
Mar 19, 2013
Currency Exchange Loss:
Jan 17, 2014