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Oyun
Oyun lives with her husband and two children in a ger (Mongolian yurt) in the Chingeltei district of Ulaanbaatar, Mongolia. Her husband, Urtnasan, is 46 years old. He works in a food market. Her older son, Butbayar, is 19 years old. He is a college student. Her younger son, Otgonbayar, is 15 years old. He is a second school student.

In 2011, Oyun graduated from a training center where she learned to produce camel wool hats and shirts. People purchase camel wool hats and shirts in the winter because they are good at conserving warmth, so Oyun started a camel wool hat and shirt production business in 2012. Now, she is making about 4 shirts a day and her two sons distribute the product to the market trader. Oyun is a hardworking and honest person. She needs 1,000,000 MNT to buy strings (wool yarn/thread) for her 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

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $750 helped Oyun to buy strings (wool yarn/thread) for her business.
95% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 16, 2012
Listed
Aug 29, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 19, 2013