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Oyunchimeg

Update on Oyunchimeg

Mrs.Oyunchimeg is 55 years old and lives alone in her Ger in the Songinohairhan district of Ulaanbaatar, Mongolia. Her children are married and live apart from her. She has been running a retail business selling clothes in a local market since 2010. She imports clothes from Erlian, China and sells to local customers in a rental counter at the local market. She has built close relationships with customers and gained their trust over the last 2 years. She is requesting 2'500'000MNT to imports winter clothes for sale to local customers. She is a diligent and honest woman.

Previous Loan Details

Oyunchimeg is 54 years old and lives with her daughter, son-in-law and niece in Ulaanbaatar, the capital of Mongolia. Her son-in-law works as a bus driver for a company that transports people between Ulaanbaatar and the western provinces, and her daughter is currently unemployed. Oyunchimeg i... More from Oyunchimeg's previous loan »

Additional Information

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

  • $2,175
    Average annual income
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,800 helped Oyunchimeg to import winter clothes for sale to local customers.
93% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 27, 2012
Listed
Dec 1, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2013