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Otgonbayar is a 42-year-old woman who lives with her husband and 3 children in the capital city of Mongolia. Her two children study at the high school. She has been running her boots production business since 1993 with her husband. She makes traditional boots in different and excellent styles and trades them at a well-positioned shop counter at 'Narantuul' market, the biggest trade center. She is experienced in the field and recognizes the demand and the changes in the field. Otgonbayar is a diligent woman who says, "I would like to expand the business activity by making my workplace bigger than it is now." The total amount she is requesting is 3,000,000 MNT to make her workplace bigger.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,320.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,275 helped Otgonbayar to make the workplace bigger.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Mar 23, 2012
Apr 10, 2012
Currency Exchange Loss:
Oct 17, 2013