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Ouynchimeg
Ouynchimeg, 34, lives with her husband and 2 sons in Bayanulgii province, Mongolia. Her older son is a secondary school student and younger son is a Kindergarten student. Ouynchimeg started a grocery store business in 2010. Her husband helps with her business. The grocery products she sells are not enough for her customers, and she wants to purchase more products to sell in her grocery store.

Also, Ouynchimeg's house windows have gotten old. In the wintertime, it costs a lot of money to warm her house due to the heat loss through the windows. Ouynchimeg wants to repair her house windows. She is requesting 3,000,000 MNT: 2,000,000 MNT to purchase vacuum windows to repair her house windows and the rest to purchase new products to expand her business.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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 Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,318.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,300 helped Ouynchimeg to purchase vacuum windows to repair her house windows.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jun 15, 2012
Listed
Jun 18, 2012
Currency Exchange Loss:
Possible
Ended:
Jan 15, 2013