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Mr. Buyantogtoh is 52 years old and lives with his wife and 3 children in a ger, in Govi-Altai province of Mongolia. His wife helps with his business of clothes retail. His oldest son is a university student and his younger sons are secondary school students.

Mr. Buyantogtoh started a retail clothes trade business on a rental counter in 2012. He had been working as driver for 12 years before and has also been a herdsman. He is a hardworking person who says that "Our plan is to expand our business to cover all the tuition fees for our sons and let them educated and start their lives." He is requesting 3,000,000 MNT to invest in his sons' education.

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
  • $15,364,275
    Funds lent in using Kiva
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,175 helped Buyantogtoh to invest in his sons' education.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Oct 9, 2012
Oct 26, 2012
Currency Exchange Loss:
Sep 17, 2014