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Ms.Shinetsetseg is 28 years old and lives with her mother, father and 2 siblings in a small house in the Selenge province of Mongolia. She has been working at a beauty salon as a beauty specialist since 2004. She has her own equipment at the beauty salon. She is currently planning to open her own beauty salon. Her living standard is good and she is financially responsible in terms of debt. She has good debt record with Xacbank. Now, she is requesting 1,000,000 MNT to buy equipment, tools and inventory to open her own beauty salon.

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
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Shinetsetseg to buy equipment, tools and inventory to open her own salon.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Oct 9, 2012
Oct 27, 2012
Currency Exchange Loss:
May 21, 2013