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Otgonbayar S. lives in Uvurkhangai province in central Mongolia. She currently operates a religious objects sales business from a counter at the local market in her town. She started her business in 2000 by renting a counter and has since worked very hard to grow and improve the business.

Otgonbayar has found success in her business and was recently able to purchase her own counter with her savings. Otgonbayar is always working hard to grow her business, however, providing for her family has always been her her primary concern. She uses all of her earnings to improve their quality of life.

For the future, Otgonbayar's dream is to establish a large trading center in her province. However, she knows in order to fulfill this dream she must first grow her business, increase her cash flow, and purchase new supplies. Otgonbayar is requesting a 2,000,000 tugrug (~1400 USD) loan to purchase more supplies for her religious objects 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
  • 1,411.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,425 helped Otgonbayar to purchase more supplies for her religious objects business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Aug 24, 2009
Sep 18, 2009
Currency Exchange Loss:
Sep 15, 2010