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Gantsetseg is 30 years old lives with her husband and daughter in a ger in Hentii Province, Mongolia. Her husband Uuganbold, 33, works at a local company. Her daughter Tsogtsetseg, 2, has just started going to the local kindergarten. The borrower graduated from a hairdressing course in 2011 and has worked at hair salon until now. She is now planning to open her own hair dressing business and is requesting 4,000,000 MNT to purchase hairdressing chairs, mirrors and other equipment for this new venture. She is a hardworking, modest and honest woman.

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
  • 1,392.9
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,875 helped Gantsetseg to purchase hair dressing chairs, mirrors and other equipment for her new hairdressing business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 27, 2012
Dec 27, 2012
Currency Exchange Loss:
Apr 17, 2013