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Ochgerel
Ochgerel is 34 years old. She lives with her husband and two daughters in a ger, a traditional nomadic tent, in Arkhangai province, Mongolia. Her husband works at a local company part-time. Her older daughter is 16 and a local school student. Her younger daughter goes to kindergarten.

Ochgerel has been taking care of her younger daughter since she was born and is now starting her business of clothing retail business. She has experience and taste in clothes. She is now requesting loan of 3,500,000 MNT to purchase clothing inventories to sell at her rental booth in the local market.

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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,727.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $2,050 helped Ochgerel to purchase clothing inventories to sell at her rental booth in local market.
66% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 23, 2013
Listed
Nov 22, 2013
Currency Exchange Loss:
Possible