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Ms. Oyunchimeg is 43 years old and lives with her husband and two sons in a 'ger' (Mongolian yurt) in Khuvsgul province, Mongolia. She has been operating a retail business selling of dairy products with her husband since 2000. They also sell organic pine nuts and fruits at the market during autumn. They purchase dairy products, pine nuts and fruits wholesale at a lower price and sell them at a higher price at the market.

Last year they improved their building and warmed up using their business profit. Both their sons are to become university students this year. Ms. Oyunchimeg says, "We have to work harder to cover our sons' tuition and other expenses in order to let them become highly educated people." She is requesting 2,500,000 MNT to pay her sons' tuition fees at the university.

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
  • 5
    View loans »
    Mongolia Loans Fundraising
  • $15,397,050
    Funds lent in using Kiva
  • 1,370.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,825 helped Oyunchimeg to pay her sons' tuition fees at university.
94% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 2, 2012
Oct 23, 2012
Currency Exchange Loss:
Sep 17, 2013