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Otgonbayar

Update on Otgonbayar

Mrs Otgonbayar lives with her husband and three children in a ger in Govisumber province, Mongolia. Her husband started to work in mining company. Her older son, Urtnasan, is 14 years old. He goes to a secondary school. Her younger son, Enhnasan, is seven years old. He joined an elementary school. Her daughter, Munhnasan, is seven years old. She joined an elementary school.

Mrs Otgonbayar started a meat trade business on a rental counter in 2009. From January she start to sell organic dairy products. Her organic dairy product sales are going well, because she sells at a lower price than other stores. She is a hardworking and a good-hearted person. She needs 885,000 MNT to purchase more organic dairy products from the countryside for her business.

Previous Loan Details

Otgonbayar is 35 years old. She lives with her husband and 3 kids in a ger, a national Mongolian yurt, in Govisumber province of southern Mongolia. Her husband works as a butcher, and the 3 kids attend schools. Otgonbayar started her meat retailing business by renting a shop counter in 2009. ... More from Otgonbayar's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,382.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $650 helped Otgonbayar to purchase more organic dairy products from the countryside for her business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 13, 2012
Listed
Sep 21, 2012
Currency Exchange Loss:
Possible
Ended:
Jun 17, 2013