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Otgonchuluun
Otgonchuluun is 41 years old and lives with his four children in a ger, a traditional nomadic tent, in the Guravn-tes district of Umnugovi province in Mongolia. His son, Dashdondog, is 15 years old and is enrolled in a special training college this year. His child, Yanjinlham, is 13 years old and his twins, Otgonchimeg and Otgonbayar, are 6 years old. All of his children are local school students.

Otgonchuluun has been producing souvenirs at home since 2004. He has been taking care of his four children and paying their educations fees all by himself for years and now he wants to send his older son to get better education as heavy truck operator.

Otgonchuluun is requesting loan of 1,000,000 Mongolian Tugriks to pay 50% of his son's tuition and to cover school expenses and materials for his younger children. He is a hardworking, caring, and loving father of four.

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

  • $2,175
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,588.4
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $650 helped Otgonchuluun to pay his son's 50% of tuition and younger children's school expenses and materials.
97% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Aug 26, 2013
Listed
Sep 2, 2013
Currency Exchange Loss:
Possible
Ended:
Mar 3, 2015