Check out some available loans that are similar to this one!

Update on Oyunjargal

Mrs. Oyunjargal is a 30-year-old single woman who lives with her grandmother in a ger (a traditional Mongolian nomadic felt housing tent, similar to a yurt) in the Uvurhangai province of Mongolia. Her grandmother is a 72-year-old lady who requires constant care. She has been running a business of clothes retailing since 2000 with her sister, and from 2005 she has been running a clothes retailing business alone for her living at a rental counter at a local market.

She has temporarily stopped her business for the last few months because of her grandmother's health condition. She spent her cash for her grandmother's hospital expenses and needed additional cash of 1,000,000 MNT to import clothes from Erlian, China to run her clothes retailing business again from her rental counter at a local market. She is a hardworking, kind and responsible woman.

Previous Loan Details

Oyunjargal is 29 years old and lives with her grandmother, 72 years old, in Uvurhangai province of Mongolia. They live in a ger, Mongolian nomadic housing tent, on a small plot of land that she bought in 2008 with her business revenues. Oyunjargal began selling consumer goods at a rented stal... More from Oyunjargal's previous loan »

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.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Oyunjargal to import clothes from Erlian, China to run her clothes retailing business again from her rental counter at a local market.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Oct 27, 2012
Nov 26, 2012
Currency Exchange Loss:
Nov 17, 2013
This photo was used before for a previous loan for Oyunjargal. It was first posted on Kiva on Mar, 2011. Learn More