in the Baganuur district of Ulaanbaatar, the capital city of Mongolia. Her
two children are both small and stay home. Her husband works at Zamiin
Uud, a border town with Ereen, China - the busiest and largest border with
As her husband works full time in Zamiin Uud, he is rarely at home.
That's why Oyuntuya decided to pursue a small business by herself, instead of
solely depending on husband's salary. In 2005, she rented a small space
and run a tea shop. However, due to high rent, she decided to exit
the tea shop business. Since 2009, she acquired a license to become an
official distributor for the Russian company that sells health products
extracted from bee’s honey. Since she is the only one with the license in
the town, she hopes to do well with the business. Since her start-up a few
months ago, the sale of health products has been doing considerably
well. She says that she is working hard to introduce the honey products to
locals and needs a personal computer to make marketing materials and
purchase products online.
She requests a loan to purchase a computer with internet, with which she
can do her own marketing in a less costly fashion and order her products online.
Founded in 1998, XacBank is a community development bank and micro-finance institution in Mongolia, and is headquartered in Ulaanbaatar. It currently serves approximately 16,000 micro-clients at 76 branches in all 21 aymags (provinces) in Mongolia, making it the largest micro-finance institution in the country.
XacBank's mission is to contribute to sustainable development of Mongolia that can come only from educated and skilled people and competitive and dynamic businesses concerned equally about the Planet, People, and Profit. The Bank will provide equitable access to transparent, reliable and responsive banking products and services to the Bank’s clients, including its traditional Micro-entrepreneurs as well as Small and Medium businesses.
Your loan enables XacBank to expand its micro-loan capacity and return a portion of the interest back to the borrower at the end of the loan term.
To learn more, please visit the XacBank website at: www.xacbank.mn.
About XacBankThis 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.
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Success!! The loan was 100% repaid