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Mr. Erdenetsetseg is 46 years old and lives with his wife and two daughters in a 'ger' in Uvurhangai province of Mongolia. His wife Enhtuya, age 39, works at a local company. His daughter Janchiv, age 21, is a university student and his daughter Dashzeveg, age 11, is a local school student. He has been working as a salesman in pelts and leather retail in a rental place at the local market since 2002. He is now planning to start his own animal pelt and leather business in that local market. He has a lot of experience in the field. He is requesting 3,600,000 MNT to purchase a large amount of animal pelts from herders and sell them to manufacturers. He is hardworking, friendly and a responsible man.

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
  • 1,382.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,625 helped Erdenetsetseg to purchase a large amount of animal pelts from herders and sell them to manufacturers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Dec 26, 2012
Jan 25, 2013
Currency Exchange Loss:
Jan 7, 2015