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Olzii-Orshih is 35 years old and lives with his wife and son in a Ger in Uvs province of Mongolia. His wife, Altanchimeg, age 26 is a university student and helps her husband to run his wood furniture manufacturing business. His son, Erhes, age 4, goes to the local kindergarten. Olzii-Orshih has been running his wood furniture manufacturing business since 2006. He sells his furniture to local and countryside customers and he delivers the furniture to customers. He is now requesting 1,000,000 MNT to pay his wife's university tuition fee. He is a hardworking and modest man.

Additional Information

More information about this loan

This loan is part of XacBank's education program, designed to finance school tuition for students whose families have low incomes or work in informal sectors of the economy. Funds can be used for partial or complete payment of expenses related to secondary and higher education.

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
  • 1,378.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $750 helped Olzii-Orshig to pay his wife's university tuition fee.
100% repaid
Repayment Term
13 months (Additional Information)
Repayment Schedule
Jan 26, 2013
Feb 26, 2013
Currency Exchange Loss:
Sep 23, 2013