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Luvsantseren
Mr. Luvsantseren is 52 years old and lives with his wife and daughter in a house in the Selenge province of Mongolia. His wife, Oyun, age 48, helps her husband to run their family business. Her daughter, Uranchimeg, age 24, works at a mining company. He has been running a household retail business in a rental counter at the local market. He is now starting a butcher shop in a rental counter at the local food market. He is requesting a loan of 3,000,000 MNT to purchase a large amount of meat products from herders to sell. He is a hardworking, kind, and diligent man.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,396.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,150 helped Luvsantseren to purchase a large amount of meat products from herders to sell.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 17, 2013
Listed
Mar 19, 2013
Currency Exchange Loss:
Possible
Ended:
Apr 17, 2013