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Mrs. Garavhuu is 38 years old and lives with her husband and three children in a small house in Zavhan aimag [province]. Her husband is 44 years old and is in the transportation business. Her older daughter is a university student and the other two kids attend school. She operated a bakery business for one year in 2008 and started a flour and rice trade in 2009. Now she is running a grocery business from two rented stalls.

Mrs. Garavhuu needs a 3,000,000 tugrik loan to pay for her daughter's tuition fees. Mrs. Garavhuu's goal is to run her business successfully and to give a good education to her children.

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
  • 1,382.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,175 helped Garavhuu to pay for her daughter's tuition fees.
100% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Aug 13, 2012
Sep 17, 2012
Currency Exchange Loss:
Jun 17, 2013