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Oyunchimeg
Oyunchimeg is 22 years old and lives with her husband and son in a ger (Mongolian yurt) in Uvurhangai province, Mongolia. Her husband works in a factory and her son goes to kindergarden. She started her hairdressing business in 2008 by renting a space in market. Her business income has been pretty much the same since she started her business therefore, she decided to sell cosmetics. She thinks that it will attract a lot of customers and retailing cosmetics is very profitable therefore, she is requesting 700,000 MNT to buy supplies. She is a sharp and hardworking woman who says "Now I have a son to support therefore, I need to increase my income."

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
  • $15,398,050
    Funds lent in using Kiva
  • 1,317.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $550 helped Oyunchimeg to buy cosmetics supplies for her hairdressing business.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 9, 2011
Listed
Nov 27, 2011
Currency Exchange Loss:
Possible
Ended:
Dec 15, 2012