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Oyunchimeg
Mrs. Oyunchimeg is 44 years old and lives with her husband and three children in a traditional nomadic tent in Ger, Uvurhangai province, Mongolia. Oyunchimeg's husband, Hurelbaatar, helps her to run their clothing retail business in the local market. Her older daughter graduated from university and works at a local company in Ulaanbaatar city. Her son Zolboo studies IT engineering at university and is planning to provide a video game center in town since he can install the necessary programs and games and fix the computers if they have problems. Oyunchimeg's youngest son, Tengis, is 13 and a secondary school student. Oyunchimeg and her husband started their clothes retail business in the local market in 2003 and have regular customers and suppliers. Oyunchimeg is requesting a loan of 4,600,000 MNT to purchase 30 computers to help her son to start his own business of video game center in town. Hurelbaatar and Oyunchimeg are very supportive of their children and their ideas.

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
  • 2
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,559.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,950 helped Oyunchimeg to purchase 30 computers to help her son to start a video game business.
94% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 13, 2013
Listed
Aug 28, 2013
Currency Exchange Loss:
Possible
Ended:
Dec 1, 2014