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Altantsetseg

Update on Altantsetseg

Altantsetseg is a 47-year-old borrower from Arkhangai province, Mongolia. Her daughters are studying at university.
Altantsetseg has been running her organic dairy products retail business successfully for the last few years. She has been providing a decent living for her family and paying education fees for her children. She is now requesting a loan of 3,000,000 MNT to purchase organic dairy products from herders in large amount to sell to local residents and make a small profit. She is a hard-working, well-experienced and friendly woman.

Previous Loan Details

Mrs.Altantsetseg is a 47-year-old widow, who lives with her two daughters in Ger in Arhangai province of Mongolia. Her daughters, Hajidmaa, age 20 and Hajidsuren, age 19 are university students. The borrower has been running an organic dairy products business from the rental counter of a loca... More from Altantsetseg's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $2,175
    Average annual income
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,764.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,725 helped Altantsetseg to purchase organic dairy products from herders in large amounts to sell to local residents.
99% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 24, 2014
Listed
Apr 30, 2014
Currency Exchange Loss:
Possible
Ended:
Jun 12, 2015
This photo was used before for a previous loan for Altantsetseg. It was first posted on Kiva on Jan, 2013. Learn More