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Altanzul, 35 years old, lives with her husband and five children in a ger, a Mongolian yurt, in the Uvs province of Mongolia. Her older daughter, 19, attends college and her three younger children attend a local secondary school.

Altanzul manages a felt craft making business with the help of her husband. They started their business in 2002 and gained much experience. In 2008, they decided to start an agriculture business with their savings. They plant buckthorn and trees inside the greenhouse located on their land and sell their planted trees when they reach 2 years old. They earn 5 million MNT yearly from tree sales. They currently have 5 million MNT of inventory that will be sold this summer. They are hardworking people who contribute their earnings for their family's use. They say, "One must be healthy to lead a happy life." Altanzul is requesting a 2,000,000 MNT loan to purchase felt and seeds for her two businesses.

Additional Information

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
  • 1,258.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,600 helped Altanzul to purchase felt and seeds.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jun 21, 2011
Jun 30, 2011
Currency Exchange Loss:
Apr 17, 2013