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Mrs. Otgonbayar is 42 years old and lives with her husband and three children in a small house in the Selenge province of Mongolia. Her husband's name is Bayanbaigal; he has worked as a teacher at a secondary school for 30 years. Two of Mrs. Otgonbayar's children are university students and her younger son goes to a secondary school.

Mrs. Otgonbayar started her own cashmere products trading business in 2010. She rents a stall at the local market. In the future, she is planning to build her own cashmere product trading store for her business. She is requesting 800,000 MNT to pay for her daughter's tuition fees. Otgonbayar is an ethical and punctual woman.

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
  • 1,357.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $600 helped Otgonbayar to pay for her daughter's tuition fees.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Aug 8, 2012
Aug 21, 2012
Currency Exchange Loss:
Sep 17, 2013