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Mrs.Ochmaa is 34 years old and lives with her husband and 2 daughters in a Ger (a Mongolian traditional tent) in the Govi-Altai province of Mongolia. Her husband Otgonbayar, aged 41, cuts the wood to order with his own electric saw. Her daughter, Handmaa, aged 13, studies at a local school and other daughter Chimedmaa, aged 5, goes to a local kindergarten. Her husband is planning to start his own business in firewood retail in the local market since he has lots of experience and he has the equipment and tools. Ochmaa is now requesting a loan of 3,000,000 MNT to purchase a large amount of wood to produce firewood to sell to local customers. Her husband is a hardworking, helpful and ethical man.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Ochmaa to purchase large amounts of wood to produce firewood to sell to local customers.
100% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Jan 28, 2013
Mar 2, 2013
Currency Exchange Loss:
Aug 17, 2013