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Oyuntsetseg is a 43-year-old widow who lives with her son in Ger in Tosontsengel soum of Zavhan province, Mongolia. Her son Erdenechuluun, age 22, studies at the national university in the capital city. Oyuntsetseg graduated with a specialty in interior construction in 2010. She has been working at a local construction company since then and now she is starting her own business in her off-duty time in order to increase her income. She is now requesting 1,000,000 MNT to purchase mud mixing equipment to start her own interior renovation business in town. She is a hardworking, open-minded and modest 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
  • 1,387.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $725 helped Oyuntsetseg to purchase mud mixing equipment to start her own interior renovation business in town.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Jan 21, 2013
Feb 17, 2013
Currency Exchange Loss:
Aug 17, 2014