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Oyunchimeg
Mrs. Oyunchimeg is 29 years old and lives with her husband and three children, in a house in Uvurhangai province, Mongolia. Her husband, Osohbayar, age 37, is serving in the local military. Her daughter, Uugantuya, age 15, and sons Batsaiha, age 13, and Batbaylag, age 2, go to local schools and kindergarten.

Borrower has been in business, making traditional boots at home, since 2007. Her business is seasonal, and she is now planning to expand her product variety, to make her business more stable. She is requesting 1,500,000 MNT to purchase inventory and equipment for starting to manufacture modern boots and shoes, to sell to local customers. She is a hard-working, enthusiastic and diligent 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

  • $5,900
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,401,550
    Funds lent in using Kiva
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,100 helped Oyunchimeg to purchase inventory and equipment with which to begin manufacturing modern boots and shoes, to sell to local customers.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Feb 21, 2013
Listed
Mar 19, 2013
Currency Exchange Loss:
Possible
Ended:
Jul 9, 2013