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Dugerjav
Mr. Dugerjav is 49 years old and lives with his wife and 5 children in a Ger (traditional nomadic tent) in Uvs province of Mongolia. His wife, Norov, runs their family business of groceries store. His older 2 children are university students in Ulaanbaatar city, and his younger 3 children attend local schools.

Dugerjav has started their family business of groceries store with his wife in 2000. He has purchased second-hand car using XacBank loan, and started providing taxi service business in town while his wife takes care of the groceries store.

Since their 2 children have become university students, the family expenses increased a lot. He has been working harder than ever. He is now requesting loan of 7,000,000 MNT to pay his older children's university tuition fees and invest in the business to increase their income.

He is an enthusiastic man who says "If you think you can, you should try no matter what."

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.

Tags

About Mongolia

  • $2,175
    Average annual income
  • 3
    View loans »
    Mongolia Loans Fundraising
  • $15,307,900
    Funds lent in using Kiva
  • 1,697.5
    Mongolia Tugriks (MNT) = $1 USD
Paying Back - Currency Exchange Loss

This loan has been fully funded!

A loan of $4,125 helped Dugerjav to pay his older children's university tuition fees and invest in the business to increase the family income.
49% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 25, 2013
Listed
Nov 1, 2013
Currency Exchange Loss:
Possible