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Otgonbaatar C. is 32 years old and lives with her husband and daughter in the Arhangai province of western Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent. Her daughter attends a local middle school while her husband helps her out with her business.

Otgonbaatar operates a retail dairy products business in her town at the local market. She began this business in 2006 with working capital of 300,000 MNT and now it has reached 1,000,000. In 2008, she also began a clothing business. She purchased a car for her husband with the business revenues. Otgonbaatar attributes her business success to her knowledge of the local market demands. She is requesting a 500,000 MNT loan in order to purchase more dairy products and consumer goods.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,380.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $375 helped Otgonbaatar to purchase more dairy products.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Jun 16, 2010
Jun 18, 2010
Currency Exchange Loss:
Jul 15, 2010