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Oyuntungalag
Mrs Oyuntungalag is 33 years old, and lives with her husband and two children in an apartment in Ulaanbaatar city, Mongolia. Her husband, Buyandelger, is 33 years old and works in the cashmere and wool trade. Her daughter, Undrah, is 10 years old and is a secondary school student. Her son, Temuulen, is 3 years old and is in kindergarten.

Mrs Oyuntungalag started a retail trade business on a rental counter in 2012. Her rent is 442 000 MNT monthly, and her revenue is 100 000 - 150 000 MNT a day. She is planning to expand and offer more goods for sale. She is a hardworking and responsible person, with experience in the retail trade. She is asking for 3 900 000 to purchase additional inventory 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
  • 14
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,385.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,825 helped Oyuntungalag to purchase additional inventory for her retail business.
95% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 22, 2012
Listed
Sep 24, 2012
Currency Exchange Loss:
Possible
Ended:
Oct 17, 2013