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Oyungerel
Oyungerel is a 35-year-old micro-entrepreneur. She lives with her husband, Lhamragchaa, and four sons between 1 and 16 years old in a ger (traditional yurt) in the Arhangai province of Mongolia.

She had been living in countryside for years, breeding livestock and producing organic dairy products until 2012. She needed to move to the province center in order to send her children to schools. She and her husband are concerned about their sons' educations and plan to send all of them to universities for whichever studies their children want too pursue.

She has just started her clothes retail business in the local market and needs some financial support. So she is now requesting loan of 1,000,000 MNT to purchase starting inventory for her new clothes retail business. She is a hardworking, enthusiastic and smart lady.

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
  • 15
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,422.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $725 helped Oyungerel to purchase starting inventory for her new clothes retail business.
92% repaid
Repayment Term
25 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Apr 7, 2013
Listed
May 10, 2013
Currency Exchange Loss:
Possible
Ended:
Feb 17, 2014