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Update on Odonchimeg

Odonchimeg, 49 years old, lives with her husband and two children in a house in the Huvsgul province of Mongolia. Her husband, Renchinbadam, works as a driver at the local hospital, while her son Erdenemonh, age 23, is a university student and daughter Molor-Erdene, age 17, is a senior student of the local secondary school.

A hardworking and responsible woman, Odonchimeg has been running a butcher shop for years, and is now starting her own taxi service in town. She is therefore requesting a loan of 3,500,000MNT to purchase an eco-friendly electric-and-gas-consuming vehicle to provide the service.

Previous Loan Details

Odonchimeg is 44 years old and lives with her family in a ger, a Mongolian yurt, in Huvsgul province of Mongolia. Her husband is a clerk at the local hospital. Her son is a college student and her daughter is a high school student. She started her business in 2004 by selling meat at the local mar... More from Odonchimeg's previous loan »

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

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.

Concurrent and Successive Loans

Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.

This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.

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 $2,525 helped Odonchimeg to purchase an eco-friendly electric-and-gas-consuming vehicle to provide taxi service.
100% repaid
Repayment Term
20 months (Additional Information)
Repayment Schedule
Feb 17, 2013
Mar 19, 2013
Currency Exchange Loss:
Aug 17, 2014
This photo was used before for a previous loan for Odonchimeg. It was first posted on Kiva on Nov, 2011. Learn More