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Update on Altantsetseg

Altantsetseg is 45 years old and lives with her husband and two children in their house in the Selenge province of Mongolia. Her husband Bayarhuu is starting his own farming business. Her older son helps his parents and her younger son studies at the local school. Altantsetseg started her butcher shop business in a rental stall of the local market in 1994. She has regular customers and suppliers in the countryside. She is now requesting loan of 1,700,000 MNT to purchase livestock from herders to let her husband start his business of farming. Altantsetseg, Bayarhuu and their sons are a hardworking, open-minded and happy family.

Previous Loan Details

Altantsetseg is 44 years old and lives with her husband and 2 children in a small house in the Selenge province of Mongolia. Her husband, Bayarhuu, works in a local company. Her son, Temuujin, age 23, works with his father in the company and her younger son, Temuulen, age 13, goes to a local scho... More from Altantsetseg's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,430.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,200 helped Altantsetseg to purchase livestock from herders to let her husband to start his business of farming.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 21, 2013
Jul 7, 2013
Currency Exchange Loss:
Feb 17, 2014
This photo was used before for a previous loan for Altantsetseg. It was first posted on Kiva on Jan, 2013. Learn More