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Update on Umitker

Umitker is 46-years-old and lives with her four children and husband in a Ger (a Mongolian yurt or circular tent) in the Bayan-Ulgii province, Mongolia. All of her children study at the local high school and primary school.

She started to sell dairy products in 2003. She purchases organic dairy products from herders in the countryside and sells at her rental booth in local market to local residents. She is planning to purchase a large amount of organic dairy products and store them to sell during the winter when the price goes up.

She is a very optimistic and hard-working woman who says, "I have been taking advantage of Kiva loans at XacBank to run my business successfully as well as support my children's education." She is requesting a 3,000,000 MNT loan to purchase a large amount of organic dairy products to sell during the winter.

Previous Loan Details

Umitker is 44 years old and lives with her four children and husband in a ger (a Mongolian yurt or circular tent) in the Bayan-Ulgii province of Mongolia. Her three children go to the high schools and her youngest son goes to kindergarden. She started to sell dairy products in 2003. She buys d... More from Umitker'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
  • 1,708.3
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,775 helped Umitker to purchase a large amount of organic dairy products to sell during the winter in her food stall business.
100% repaid
Repayment Term
24 months (Additional Information)
Repayment Schedule
Oct 15, 2013
Nov 17, 2013
Currency Exchange Loss:
Jan 6, 2016