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Oyun O. is a widow and lives with her youngest son in the Narantuul district of Ulaanbaatar, the capital city of Mongolia. Oyun has a small business making shoes. She makes warm winter shoes for women and men. While she sews shoes at home, her son sells completed shoes in a rented stall in the Narantuul market, the largest open market in Ulaanbaatar.

Oyun has been running her shoemaking business for the last thirteen years and with the profits she has bought a car for her son so he can earn extra income. In his free time, Oyun's son uses his car as a city taxi. Oyun's goal is to ensure that her son will have enough working capital to keep the shoemaking business going after she is too old to work. She requests a loan to purchase raw materials, such as leather and glue for her business.

Additional Information

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,437.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,100 helped Oyun to purchase raw materials for making shoes.
100% repaid
Repayment Term
19 months (Additional Information)
Repayment Schedule
Apr 1, 2009
Apr 16, 2009
Currency Exchange Loss:
May 15, 2010