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Mr. Altanhundaga is 41 years old and lives with his wife and three children in Ger in the Darhan province of Mongolia. His wife is temporarily unemployed now. His daughter Ariuntsetseg, age 20, is a university student and his daughter Bayartsetseg, age 13, and son Altanhishig, age 9, go to a local school. This borrower has been running his business of silver and gold jewelry repair and redesign in a rental place in a local shopping area. He is now requesting 2,000,000 MNT to pay his daughter's university tuition fee and other school-related expenses. He is a hardworking and responsible man.

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
  • 1,387.6
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $1,450 helped Altanhundaga to pay his daughter's university tuition fee and other school-related expenses.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Dec 18, 2012
Jan 16, 2013
Currency Exchange Loss:
Jan 17, 2014