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Narantsetseg

Update on Narantsetseg

Narantsetseg is 50 years old and lives with her husband and four children in a ger in Uvs province of Mongolia. Her husband Tulga runs a taxi service in town. Her son Dashyondon, age 23, graduated and is working at a local company. Daughter Dashdulam, age 21, and son Dashnyam, age 19, study at university while daughter Otgondash, age 14, goes to a local school. Narantsetseg has been running her organic vegetable and fruit retail business since 2007. She is now requesting 4,000,000 MNT to purchase a large amount of organic vegetables and fruits to sell in her rental counter at the local market. She is a hardworking and enthusiastic woman.

Previous Loan Details

Narantsetseg is 49 years old and lives with her husband and four kids in a ger (a Mongolian yurt) in Uvs province, Mongolia. Her husband is a cab driver, her elder two kids are college students and her younger two are in school. She started her fruit retailing business in 2007 by renting a ... More from Narantsetseg's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,404.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,850 helped Narantsetseg to purchase a large amount of organic vegetables and fruits to sell in her rental counter at the local market.
89% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 20, 2013
Listed
Mar 25, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 3, 2015
This photo was used before for a previous loan for Narantsetseg. It was first posted on Kiva on Nov, 2011. Learn More