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Mrs.Gantsetseg is 35 years old and lives with her husband and 4 children in a small house in the Bayanhongor province of Mongolia. Her husband Myagmarbaatar is 36 years old and runs a small animal pelt retail business in a local market. Zagadzusem, age 15 and Tsend-Ayush, age 10 go to local schools. Her twin sons Tormonh and Monhtor are 2 years old and go to local kindergarten. The borrower has been working as a saleswoman in a local market for 12 years and now she is planning to start her own butcher shop at a rented counter of the local market. She is now requesting 3,000,000MNT to purchase meat products for her butcher shop. She is a hardworking and diligent 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
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Gantsetseg to purchase meat products for her newly started butcher shop.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Jan 9, 2013
Feb 9, 2013
Currency Exchange Loss:
Jan 17, 2015