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Oyuntsetseg

Update on Oyuntsetseg

Mrs.Oyuntsetseg is 40 years old and lives with her husband and 5 children in a Ger (a traditional Mongolian tent) in the Uvs province of Mongolia. Her husband, Amgalanbaatar, is currently unemployed and is helping his wife to run her organic dairy product sales business. Her daughters Nemehjargal, aged 18, and Naranzaya, aged 11, and sons Ariunbold, Ariunbileg, and Amarbold, aged 16, 13 and 7 respectively, are all studying at local schools. She has been operating her organic dairy products business at a rental counter of a local market since 2000. She has gained a lot of experience, customers and suppliers over the years. She is now requesting 2,500,000 MNT to purchase large amount of organic dairy products from herders to sell to local customers. She is a hardworking and modest woman who says, "My children are soon to be university students and I will have tuition fees to pay so I need to save for their education."

Previous Loan Details

Oyuntsetseg is a 39-year-old woman who lives with her husband and 5 children in Uvs province in Western Mongolia. Her husband is employed and 5 of the children study at the local secondary school. Oyuntsetseg has been running a dairy products retail and grocery trading business for 10 years. ... More from Oyuntsetseg's previous loan »

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

About Mongolia

  • $5,900
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,384.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,825 helped Oyuntsetseg to purchase a large amount of organic dairy products from herders to sell to local customers.
88% repaid
Repayment Term
31 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Jan 28, 2013
Listed
Mar 2, 2013
Currency Exchange Loss:
Possible
Ended:
Oct 2, 2014
This photo was used before for a previous loan for Oyuntsetseg. It was first posted on Kiva on Apr, 2012. Learn More