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Tuvshin
Mr. Tuvshin is a 42-year-old man who lives with his wife and two children in small house in Sukhbaatar district of Ulaanbaatar city of Mongolia. His wife Myagmarsuren, aged 26, gave birth to a daughter 8 months ago and is staying with their daughter at home. His son Osohbayar, aged 17, has just enrolled in university this year. He has been operating a public transportation service business since 2007. He is a hardworking, honest and responsible man who says that his goal is to educate his children and let them live a better life in future. He is requesting a loan of 4,000,000 MNT to cover his son's university tuition and other school-related expenses to get his son highly educated.

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

  • $2,175
    Average annual income
  • 21
    View loans »
    Mongolia Loans Fundraising
  • $15,289,050
    Funds lent in using Kiva
  • 1,392.5
    Mongolia Tugriks (MNT) = $1 USD
Ended with Loss - Currency Exchange Loss learn more
A loan of $2,875 helped Tuvshin to cover his son's university tuition and other school-related expenses to get his son highly educated.
91% repaid
Repayment Term
26 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Oct 15, 2012
Listed
Nov 8, 2012
Currency Exchange Loss:
Possible
Ended:
Nov 17, 2014