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Tuul
Tuul is 48 years old and lives with her son in ger (Mongolian yurt) district of Sainshand province, Mongolia. Her son is a first-year college student. Tuul started her hairdressing business in early 2000. She has 12 years experience hairdressing and has a professional degree. Her daily income is 30.000 MNT. Her business is improving and her market demand is increasing rapidly. Therefore, she needs more equipment, additional chairs and materials. She is a hardworking and honest woman who says "I need to pay my son's tuition fee and save before hand for next year's tuition also." She is requesting 1,500,000 MNT to pay her son's tuition fee and other expenses related to school.

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
  • 4
    View loans »
    Mongolia Loans Fundraising
  • $15,367,100
    Funds lent in using Kiva
  • 1,378.0
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $1,100 helped Tuul to pay her son's tuition fee and other expense related to school.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 10, 2012
Listed
Oct 26, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014