The borrower has been working at a jewelry manufacturing company for years and has just started his own business of silver and golden jewelry redesign and producer in town. He is well-known in town and has a strong customer base. He is a hardworking and positive person.
Kirov needs an additional 2,500,000 MNT to pay his children's tuition fees and living expenses.
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 XacBankThis 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.
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Success!! The loan was 100% repaid