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Oyunchimeg
From Huvsgul Province in western Mongolia, Oyunchimeg H. is a 41-year old widow who lives with her three children, all students, in a ger, a traditional Mongolian nomadic tent. Although suffering from heart disease, Oyunchimeg has been operating a small food stand in her town since 2000, and her business methods and experience have improved steadily, as have her sales numbers. Known as a reliable borrower from XacBank, she has thus far received and repaid 17 loan. Initially she began this business with working capital of 300,000 MNT, but now it has reached 2,000,000 MNT.



Oyunchimeg is a hardworking and modest woman who would like to keep growing her business. She says, “ I want to be able to afford my children's university tuition fees so that they can help me after graduation.” She is requesting a 2,000,000MNT loan in order to purchase a large amount of food for her stand and to increase her working capital.

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

  • $2,175
    Average annual income
  • 20
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,307.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,550 helped Oyunchimeg to purchase a large amount of food for her stand.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 13, 2010
Listed
Aug 23, 2010
Currency Exchange Loss:
Possible
Ended:
Oct 24, 2011