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Mrs.Altanchimeg is 35-years-old and lives with her husband and 3 daughters in an apartment in Baganuur district of Ulaanbaatar, Mongolia. Her husband Hurelbaatar, age 38, works at a local company as driver. Her daughters Nomin, age 14, Michid, age 12 and Margad, age 5 go to the local school and kindergarten. The borrower has been working as a hairdresser since 2001. She is now planning to start her own barbershop in a rental place and is requesting 3,500,000 MNT to purchase seats and other necessary equipment. She is hardworking, friendly and a strong 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
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,525 helped Altanchimeg to purchase seats and other necessary equipment for her business.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Feb 18, 2013
Mar 22, 2013
Currency Exchange Loss:
Jul 9, 2013