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Rentsenhand
Mrs. Rentsenhand is a 61-year-old woman who lives with her husband and two sons in a ger (a traditional nomadic tent house), in Govi-Altai Province, Mongolia. Her husband is retired and stays at home. Her older children are gotten married and live away from home. Her two younger sons attend local secondary school and university, respectively. Rentsenhand has been in the meat retail business for many years, since 2000. She has built up her supply chain and has attracted loyal customers with her quality meat products and her welcoming service. She has taught her children to run small businesses and let them start their own businesses. Her daughter who lives with her own family is starting her own business, while she learns from her mother. Rentsenhand is now applying for a loan of 4,500,000 MNT to purchase a starting inventory and other items that are necessary for her daughter to start her business. She is hardworking, neat and responsible 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

  • $2,175
    Average annual income
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,697.8
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,675 helped Rentsenhand to buy starting inventory and other items that are necessary for her daughter to start her business.
99% repaid
Repayment Term
24 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 14, 2013
Listed
Nov 15, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 4, 2014