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Mr.Lhamsuren is 44 years old and lives with his wife and daughter in a small house in Uvurhangai province, Mongolia. His daughter, Hulan, is 19 years old, and is a college student. Mr.Lhamsuren works at construction material producing company. He used to work as retailer of raw pelt from 2003. His wife Chimgee, is starting to purchase raw pelt from individuals at the market, and sell it to processing companies for a higher price. This is a seasonal business, and high season is approaching. Mr.Lhamsuren and his wife would like to boost their profits during the high season to cover their daughter's tuition and accommodation expenses. He is a modest and honest man, and is requesting a loan of 3,700,000 MNT to pay daughter's tuition and accommodation expense.

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
  • 11
    View loans »
    Mongolia Loans Fundraising
  • $15,444,050
    Funds lent in using Kiva
  • 1,387.8
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $2,675 helped Lhamsuren to pay daughter's tuition and accommodation expense.
100% repaid
Repayment Term
27 months (Additional Information)
Repayment Schedule
Sep 28, 2012
Oct 18, 2012
Currency Exchange Loss:
Jan 17, 2014