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Mr. Altangerel is 52 years old and lives with his wife and four children in Ger in the Uvs province of Mongolia. His wife Sanjaajav, aged 50, is retired and stays home. His older two children work in Ulaanbaatar city. Altangerel's son Narmandah, aged 23, works in a local company and his son Enhtaivan, aged 17, is a senior student at the local secondary school.

The borrower has been working at a children's store for five years now. His wife worked as a saleswoman at a butcher shop before and has experience in the business. He is now requesting 2,600,000 MNT to purchase a large amount of meat products for his wife to start her butcher shop business at a rental counter in the local market.

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
  • 1,397.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,875 helped Altangerel to purchase a large amount of meat products.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Mar 1, 2013
Apr 3, 2013
Currency Exchange Loss:
Oct 2, 2014