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Mr. Batmunlkh, 41 years old, lives with his wife and three children in Ger, in the province of Arkhangai, Mongolia. His wife works as saleswoman at a food store. His three children are Tserenlham, an 18-year-old first-year university student, Myagmarsuren, a 14-year-old secondary school student, and Otgonjargal, a 3-year-old attending kindergarten.

A modest and diligent person, Mr.Batmunkh has been operating a taxi service for the last five years, earning a daily income of about 20,000-35,000MNT. He is requesting a loan of 2,000,000MNT to cover his daughter's university tuition and living expenses in Ulaanbaatar city.

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
  • 1,380.5
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Batmonh to cover his daughter's university tuition and living expenses in Ulaanbaatar city.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Oct 17, 2012
Oct 31, 2012
Currency Exchange Loss:
Sep 17, 2013