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Oyuntsetseg
Mrs. Oyuntsetseg is 57 years old. She lives with her husband in a Ger (Mongolian housing tent) in the Tuv province of Mongolia. Her husband, Sereeter, runs a taxi service in town. Her children all are married and live separately.

She had been working at a state-owned company for years and retired two years ago. She has been helping her daughter to run her clothes retail business in a local market. She is now starting her own business of clothing retail at a rental counter in a local market.

She is now requesting 1,500,000 MNT (Mongolian tugriks) to import clothes from Erlian, China, for her newly started clothes retail business. She is a hardworking and optimistic woman.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Oyuntsetseg to import clothes from Erlian, China, for her newly started clothes retail business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 19, 2012
Listed
Jan 18, 2013
Currency Exchange Loss:
Possible
Ended:
Jun 6, 2013