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Oyuntsetseg
Mrs. Oyuntsetseg is 49 years old and lives with her husband and two children in a 'ger' in Hentii province of Mongolia. Her husband Tsog, age 55, works part-time providing handyman services in town. Her son Oyunbaatar works at a local hospital and her daughter Otgonjargal studies at a local school.

The borrower has been doing interior redesign work during the summer with her husband and part-time tailoring clothes to order. She is now making her tailoring business her real business and needs an additional investment of 1,000,000 MNT to purchase inventory and tools to produce traditional costumes and sell them to local customers. She is hardworking, positive and a well-organized 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
  • 17
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Oyuntsetseg to purchase inventory and tools to produce traditional costumes.
90% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 17, 2013
Listed
Mar 20, 2013
Currency Exchange Loss:
Possible
Ended:
Aug 17, 2014