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Onortsolmon is 28 years old. She lives with her husband and two children in a rental apartment, in the Hentii province of Mongolia. Her husband, Ravjih, age 29, is a teacher at a local school. Her son, Sodbileg, age 6, just enrolled in primary school and her daughter, Nandinbileg, age 2, goes to a local kindergarten.

Onortsolmon has been working as a chef in a bakery for years. She is now starting her own bakery and ready-made flour production in a rental place. She is now requesting MNT 4,000,000 to purchase equipment and inventory for her newly-started bakery business. She is a well-experienced, well-organized, and hard-working woman.

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
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,377.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,925 helped Onortsolmon to purchase equipment and inventory for her newly-started bakery business.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Dec 31, 2012
Feb 1, 2013
Currency Exchange Loss:
Jul 4, 2013