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Oyuntsetseg
Oyuntsetseg is 40 years old and lives with her husband and two children in a small house in Chingiltei district of Ulaanbaatar, Mongolia. Her husband Olziishur, age 40, provides transportation service back and forth to a mining company from Ulaanbaatar city. Her son Enhbat, age 18, is a university student and her daughter Enhtsetseg, age 15, is a secondary school student. She has been working as a hairdresser for the last 14 years in a rental place in a barbershop. She is now planning to open her own barbershop to increase her sales volume and profit. She has already built a strong client base and it will be easier for her to increase sales. She is now requesting 1,500,000 MNT to purchase necessary equipment and tools for her newly starting barbershop business. She is a hardworking and optimistic person.

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

  • $5,900
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,397.6
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,075 helped Oyuntsetseg to purchase necessary equipment and tools for her newly starting barbershop business.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 14, 2012
Listed
Dec 15, 2012
Currency Exchange Loss:
Possible
Ended:
Dec 17, 2014