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Altantuul
Mrs. Altantuul is 23 years old and lives with her newly wedded husband in a ger, traditional nomadic tent, in the Uvs province of Mongolia. Her husband Mendjargal runs a taxi service in town. Altantuul has been working as saleswoman in the clothing retail business since 2011. She has a lot of experience and is now starting her own business. She is importing clothing from Erlian, China and sells them to local customers. She has good taste and has regular customers. She is now requesting 3,000,000 MNT to purchase starting inventory from Erlian, China, and sell to local customers. She is a hardworking, neat and well-experienced 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
  • $15,366,300
    Funds lent in using Kiva
  • 1,489.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,025 helped Altantuul to purchase starting inventory from Erlian, China, and sell to local customers.
96% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 7, 2013
Listed
Aug 11, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2013