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Ms. Altantsetseg is 40 years old and lives with her husband and mother-in-law in a Ger in the Uvs province of Mongolia. Her husband, Ayush, is a 46-year-old, part-time worker at a local power plant. Her mother-in-law is retired and stays home.

Ms. Altantsetseg has been running a clothing sales business at a rental counter of the local market since 2006. She is now planning to start her own grocery store in a food market and is requesting 7,000,000 MNT to purchase starting inventory for her business. She will assist her husband in running the grocery store in order to boost their family income.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,404.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $5,000 helped Altantsetseg to purchase groceries for her new business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Mar 17, 2013
Apr 19, 2013
Currency Exchange Loss:
Apr 17, 2015