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Mrs.Gantsetseg aged 30, lives with her husband and a son in a small state apartment in Govisumber province. Her husband has been working as a repairman in the state department of Mongolian railway for 5 years. Her son is 7 years old and goes to the secondary school. Before Mrs.Gantsetseg worked as a teacher in a kindergarden of the World Vision INGO. In this year, she is started her first own business to sell silver articles. But her income was insufficient. Therefore, she also sells bed linens and her income increased two times. Now she is requesting a 2.000.000 MNT to improve the working capital and to increase a range of goods. Her next plan is to build her private shop.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,355.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,500 helped Gantsetseg to improve the working capital and to increase a range of goods.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 13, 2012
Aug 26, 2012
Currency Exchange Loss:
Oct 15, 2012