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Oyunchimeg
Oyunchimeg lives with her four children in a leased ger (Mongolian yurt), in the Bayanzurh district in Ulaanbaatar city, Mongolia. Her husband is deceased. Her oldest son, Anhbayar, is 25 years old, and her oldest daughter, Hostsetseg, is 24 years old. They each work in a private company. Her youngest daughters, Hoszaya and Hosjargal, both 21 years old, are college students.

In 2004, Oyunchimeg started a retail socks and footlet business on rental a counter in a clothes market. She sent her older children to the university with the profits from her business. She is planning to purchase a ger (Mongolian yurt). She is a hardworking and cheerful person, and she is asking for 1,840 000 MNT to buy the ger and to buy modernized warm insulation cover for her ger for her family.

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
  • 1,365.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,350 helped Oyunchimeg to buy the ger and to buy modernized warm insulation cover for her ger for her family.
96% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2012
Listed
Sep 21, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2013