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Oyunchimeg
Oyunchimeg N. is a 45-year-old widow who lives with her three sons and one daughter in Arhangai province, one of Mongolia's central provinces. His children's ages range from 19 to 26. Oyunchimeg is a very entrepreneurial woman. Since 1992, she has been involved in many types of small business. Her first business was importing cheap clothes from Ereen, China, a border town from where many cheap Chinese products are imported. Since 2004, she has been selling cut wood to local carpenters. Within five years, she expanded the business, with her business capital increasing from 1,000,000 MNT to 3,400,000 MNT.


Now Oyunchimeg would like to open a small internet cafe to offer internet services and computer games to local people. She sees a great market opportunity as many local young people are really getting into internet surfing and computer games. She is committed to making the internet cafe a success as her private businesses are the sole source of family income. All of her children are top students at their respective high schools, and Oyunchimeg wants to make sure that they all continue their studies at the universities of their choice and pursue their dreams. She says that she works very hard to make all this come true.


Oyunchimeg is requesting a loan to purchase computers and internet access for her new internet cafe.

Additional Information

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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,445.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,950 helped Oyunchimeg to purchase computers and internet access for her internet cafe.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jul 10, 2009
Listed
Jul 18, 2009
Currency Exchange Loss:
Possible
Ended:
Aug 15, 2010