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Otgonmunh
Otgonmunh is 32 years old and lives with her husband, two children and her orphan sibling in the Bayanhongor province of Mongolia. She and her family live together in a ger, a traditional Mongolian nomadic tent, in her sibling's enclosure. Her oldest son attends a local secondary school and her husband operates a dairy products sales business.

Otgonmunh operates a clothes making business out of a rented space in her town, sewing a variety of clothing items according to her customers' orders. She started her own business in 2005 after living and working as a herder in the countryside with her family. For the future, she plans to expand her rented space and establish her own tailoring factory. Otgonmunh is requesting a 440,000 MNT loan in order to purchase an electric sewing machine for her business.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,272.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $350 helped Otgonmunh to purchase an electric sewing machine.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 5, 2011
Listed
Jan 11, 2011
Currency Exchange Loss:
Possible
Ended:
Jun 24, 2011