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Mr. Altan-Erdene is 30 years old and lives with his wife and 4 children in Ger (Mongolian hut), in Bayanhongor province of Mongolia. His wife Ganchimeg, age 33, currently stays home taking care of their newborn baby boy Enh-Erdene, who is 4 months old.
Altan-Erdene's sons Erhembayar, age 15, Enhzul, age 11 and daughter Enhbilguun, age 6, go to local schools.

Altan-Erdene has been running his welding service business in town since 2008. He is now building a house for family use and requesting a loan of 1,200,000MNT. This is to purchase insulation material and vacuum windows, in order to reduce heat loss during winter and stay warm. Altan-Erdene is well-experienced and well-known in his business. He plans on building his workplace in his plot of land in the near future.

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.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $5,900
    Average annual income
  • 10
    View loans »
    Mongolia Loans Fundraising
  • $15,448,550
    Funds lent in using Kiva
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $875 helped Altan-Erdene to purchase insulation material and vacuum windows, in order to reduce heat loss during winter and stay warm.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Apr 3, 2013
Apr 4, 2013
Currency Exchange Loss:
Jul 17, 2013