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Oyunbat
Mr. Oyunbat is 30 years old and lives with his wife and two daughters in a 'ger' in Bulgan province of Mongolia. His wife Agiimaa has given birth to their younger daughter Nomundari, age 2. His older daughter Nomin-Erdene, age 10, goes to local primary school.

This borrower has been running a taxi service business in town for years. His wife is now planning to start her own retail business selling clothes in the local market. She was working as saleswoman before she gave birth to their second daughter. She has experience in the industry and now the borrower is requesting 3,900,000 MNT to purchase starting inventory from Erlian, China for her clothing retail business in the local market. The borrower and his wife are hardworking, open-minded and optimistic 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
  • 6
    View loans »
    Mongolia Loans Fundraising
  • $15,337,175
    Funds lent in using Kiva
  • 1,380.3
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,850 helped Oyunbat to purchase inventory from Erlian, China to start up his wife's clothing retail business in the local market.
70% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 30, 2012
Listed
Jan 29, 2013
Currency Exchange Loss:
Possible