Check out some available loans that are similar to this one!
Otgontogtoh, a 47-year-old widow, lives with her daughter in a ger in Songinohairhan district, Ulaanbaatar city, Mongolia. Her daughter is pregnant and on her maternity leave, while her son-in-law is working in Korea.

Otgontogtoh, who has been selling clothes with her friends at the Narantuul market since 2005, is now planing to retail clothes by herself at a rental counter in a market. Hard-working and quiet-natured, she requesting a loan of 3,000,000 MNT to buy inventory for her new business.

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

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
  • 1,340.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,250 helped Otgontogtoh to buy inventory for her new business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jul 23, 2012
Aug 7, 2012
Currency Exchange Loss:
Oct 2, 2014