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Oyuntsetseg
Mrs. Oyuntsetseg, a 41-year-old widow, lives with her daughter in an old, small house in Hentii province, Mongolia. Her daughter, Uyanga, age 10, goes to a local school. Oyuntsetseg has been running a grocery store, at a counter she rents in a local market, since 2000.

She has not been able to repair or make renovations to her house since her husband died, several years ago. Now, she is planning to insulate her house, in order to stay warm during winter. She is requesting a 6,000,000 MNT loan, which she will use to purchase construction and insulation materials to improve her housing situation. She is a hard-working and optimistic woman.

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.

About Housing Loans

Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,310,900
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $4,325 helped Oyuntsetseg to purchase construction and insulation materials, to use in renovations which will make it easier to keep her house warm in winter.
90% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 11, 2012
Listed
Jan 9, 2013
Currency Exchange Loss:
Possible
Ended:
Sep 17, 2014