Jamba Otgondorj

Jamba Otgondorj is 27 years old and lives with his wife and four children in Dornogobi province in southern Mongolia. He and his family live in their own house. His eldest son and daughter, aged 17 and 10, currently attend a local secondary school, and his youngest son and daughter, aged 6 and 4, will soon start school. Otgondorj's wife, Otgonbayar, supports the family by managing their small grocery store next to their house.

Otgondorj operates a taxi service in his town. He injured his leg when he was 16 years old and has had an artificial leg ever since. It makes his work difficult, but he works hard to support his family. Otgondorj started driving a taxi in 2002 and has been quite successful. His earnings have allowed him to build the shop and open the grocery business for his wife.

For the future, the family is very focused on growing both of their businesses. They hope to expand the product variety at the grocery shop to attract new customers. Otgondorj is requesting a 500,000 MNT loan to purchase groceries such as flour, rice and candies to sell at the grocery shop.

In the picture, Otgondorj is shown next to the car he uses for his taxi service.

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. To get regular updates from XacBank, please join our lending team.

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