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Otgonbayar
Mr. Otgonbayar is 30 years old. He lives with his wife and two sons in a newly built small house in the Bulgan province of Mongolia. His wife, Uyanga, works at a local school as an assistant teacher. His son Dolgoon, age 10, goes to a local school, and his son Bilguun, age 2, goes to a local kindergarten.

He has been working at a construction site as an assistant worker since 2002 and has just started a taxi service business in town. He is now requesting 1,500,000 MNT (Mongolian tugriks) to purchase insulation material and vacuum windows in order to stay warm during the winters of Mongolia. He is a hardworking, neat and diligent person.

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.

About Mongolia

  • $5,900
    Average annual income
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,364,275
    Funds lent in using Kiva
  • 1,377.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,100 helped Otgonbayar to purchase insulation material and vacuum windows in order to stay warm during the winters of Mongolia.
92% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Dec 30, 2012
Listed
Jan 29, 2013
Currency Exchange Loss:
Possible
Ended:
Jan 17, 2014