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Ochirbat O. is 25 years old and lives with her parents in a house in the Bayanzurkh district of Ulaanbaatar, the largest city and capital of Mongolia. She operates a clothing trading business, primarily selling undergarments, in the city. She started her business in 2009 and has quickly built a stable operation. She works very hard and is gaining valuable business experience everyday. O. hopes continued growth will allow her to expand her operation in the future.

She is a very passionate person who is very eager to succeed in life. She says, "I hope to have my own shop in the future." She is requesting a 2,000,000 tugrug (~1400 USD) loan to purchase more undergarments to sell at her clothing store.

About XacBank
XacBank was founded in 2001, and listed its first loan on Kiva in January 2009. It is the largest microfinance organization in Mongolia, but also has mainstream commercial operations. XacBank has the vision, scale and innovation to develop and implement new solutions to poverty. It is currently utilizing Kiva’s 0% lending interest rate to return 9% of interest paid from borrowers to them in the form of a savings account at the end of their loans. This not only allows borrowers to gain financially, but also encourages them to save.

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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
  • 1,448.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,400 helped Ochirbat to purchase more undergarments to sell at her clothing store.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Nov 5, 2009
Nov 26, 2009
Currency Exchange Loss:
Nov 15, 2010