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Erdenetsetseg
Mrs.Erdenetsetseg is 23 years old and lives with her parents, three younger brothers and a sister in their ger, a traditional nomadic tent, in Zavhan province, Mongolia.

Her two younger brothers and a younger sister are local public school students, and the youngest brother goes to a local kindergarten.

Erdenetsetseg is the oldest of the children, and started working at a grocery store in 2011. She is hardworking, and a fast learner who has just started her own grocery store based on her experience in working at a grocery store as a saleswoman. Her parents are very helpful and supporting of her business and herself.

She is now requesting 5,000,000 MNT to purchase a starting inventory from Ulaanbaatar city for her store, to increase the variety of products.

She is planning on expanding her business in the future, and taking care of her family.

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.

Tags

About Mongolia

  • $5,900
    Average annual income
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,715.3
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,925 helped Erdenetsetseg to purchase a starting inventory from Ulaanbaatar city for her store to increase the variety of products.
78% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 28, 2013
Listed
Nov 27, 2013
Currency Exchange Loss:
Possible