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Oyunbaatar
Oyunbaatar is 35 years old and a head of family who lives with her two children, her brother and sister-in-law and their two children in a small house in Selenge province of Mongolia. Her son Sansar, 16, and daughter Saruultsetseg, 14 go to the local secondary school. Oyunbaatar has been working at a local cafeteria as a chef since 2008. Her brother is starting a new butcher shop purchasing products from herders and selling to retailers. Oyunbaatar is now requesting 3'900'000MNT to purchase a large amount of meat products to let her brother start the butcher shop business. She and her brother both are hardworking, positive and welcoming people.

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
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,825 helped Oyunbaatar to purchase large amount of meat products to let her brother start his own butcher shop business.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 25, 2012
Listed
Jan 24, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 4, 2013